"It's rare to see a positive surprise from Canadian consumers these days, but the July retail sales report delivered," said Shelly Kaushik, an economist with BMO Capital Markets.
Economic activity in Canada may rebound as interest rates decline, with retail sales rising to $66.4 billion driven mainly by new car sales, indicating consumer confidence.
Retail sales increased 0.9 percent in July, boosted by strong sales in motor vehicles and parts; however, ongoing interest rate cuts are necessary for sustained growth.
The central bank's decision to cut rates provided relief to consumers, reflected in the 0.6 percent increase in core retail sales that exclude big-ticket items.
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