Retail sales headed for 10-year low: Strapagiel

TORONTO ― StatCan’s latest retail figures show continued weakening, according to retail consultant Ed Strapagiel. Retail sales edged up just 1% year-over-year (not seasonally adjusted) for the three months ending in August 2019. Two-thirds into the year, year-to-date sales are only 1.8% above the levels from a year ago. “Current trends imply things are going to get worse before they get better,” Strapagiel writes. “At current rates, retail sales growth in 2019 could end up at around 1.3% or 1.4%, which would make it the worst year since 2009 and the so-called Great Recession.”