March 25, 2011
Carrick: Oil prices will push down consumer spending
Retail sales in Canada in January were up 3.5 per cent over the January, 2010 but instability in Libya could put the brakes on household spending in 2011. When consumers have to may more for gas, they tend to spend less on other items, such as new vehicles, especially trucks.
For more information please see Consumer spending and profits to suffer from higher oil and gasoline prices by Reed Construction Data Canada’s chief economist, Alex Carrick.
Carrick analyzes Statistics Canada’s latest retail sales report, figures from the U.S. Bureau of Economic Analysis and the latest oil prices.
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| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
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