Fifth straight monthly gain reflects resilient economy despite tough economic environment
Canada's merchandise trade surplus with the United States rose to $7.4 billion
Consumer spending “continued to sputter” as economic growth weakened
Retail sales and bank earnings top this week's releases
But higher interest rates are weighing on economic activities dependent on credit
Sales at general merchandise retailers rose 3.3% in April, while food and beverage retailers saw a gain of 1.5%
New figures to be released this week could show signs of softening
Sales at gasoline stations and fuel vendors dropped 3.9%
Consumers face challenges in the second half of the year, including tighter credit and a weaker job market
Supply chain issues, wage costs keep food prices high, even as inputs fall