Retail growth headed for 10-year low: Strapagiel

TORONTO — Ten months into 2019, Canadian retail sales were just 1.5% above 2018 values, not seasonally adjusted, notes retail consultant Ed Strapagiel. “At this rate,” he adds, “2019 will very likely clock in as a 10-year low for retail sales growth.” With the population growing at a rate of about 1.4% per annum and inflation near 2.1%, retail sales would have to grow by about 3.5% “just to keep pace.” Moreover, there may yet be further bad news to come out of 2019, with the three-month sales growth trend still tracking below the overall twelve-month trend.