Canadian retail off to strong start

TORONTO — Canadian retail sales grew 6.1% year-over-year in April (not seasonally adjusted basis), the latest StatCan data reveals, rising 5.8% in the first quarter of the calendar year. According to retail analyst Ed Strapagiel, this marks the strongest start to a year since 2010. Such spikes usually stabilize within a few months, he says, but the recovery in retail sales is widely spread across categories, a positive sign. Building materials and garden equipment suppliers are among the strongest areas of growth, at 10.5%.