**Canada’s retail sales edged up 0.1% in June, Statistics Canada said on Friday, as auto sales provided a boost but overall consumer spending remained weak amid high inflation and rising interest rates.**.
Retail sales were up 3.0% compared with the same month last year. Sales at motor vehicle and parts dealers rose 2.1% in June, driven by higher prices. Excluding autos, retail sales fell 0.2%..
Core retail sales, which exclude gasoline stations and motor vehicle dealers, were flat in June..
Economists had expected a 0.2% increase in headline retail sales and a 0.1% gain in core retail sales, according to a Reuters poll..
The increase in auto sales was likely driven by pent-up demand, as consumers who had been waiting for new vehicles amid supply chain disruptions finally made purchases. However, the overall trend in retail sales remains weak, as consumers grapple with the rising cost of living..
