GDP up marginally in August but retail sales growth slowing

The August 2015 data from StatCan indicates that real gross domestic product (GDP) increased marginally (0.1%) following increases in June (0.4%) and July (0.3%). The growth in August was attributed mainly to gains in manufacturing, mining, quarrying, and oil and gas extraction, as well as retail trade.

Source: StatCan

But retail sales consultant Ed Strapagiel predicts retail sales growth is slowing down based on year-to-date sales data. Ed notes that 2015 GDP growth has been below expectations and “retail sales growth is past its peak and is moderating just in time for Christmas.”

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