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Posted AT 11:22 AM EST on 22/09/08

Retail sales flat in July

VIRGINIA GALT

Globe and Mail Update

Canadians have not cut back on overall spending, but Monday's report that retail sales volumes were flat in July was taken as a sign by some economists that consumers may be losing their spending momentum. Statistics Canada reported that retail sales edged up 0.1 per cent, to $36-billion, in July, with a decline in the automotive sector offset by strong gains in sales of furniture, home furnishing and electronics.

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