Canadian Retail Sales Rebound After Second-Wave Lockdowns

Canadian retailers reported a rebound in sales in February and March, as authorities began lifting lockdowns during those months.

Retail sales rose 4.8% in February, while preliminary estimates for March showed a 2.3% gain for that month, according to data released on Wednesday by Statistics Canada. It represents a bounce back from a flat reading in January and a sharp decline of 5.5% in December, when many businesses were forced to close because of a second wave of Covid-19.

Gains for retailers could stall again in April, amid a fresh wave of lockdowns in recent weeks.

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