Retail Sales

retail sales: The provincial government is predicting retail sales will contract this year and the pace of household spending will slow down as employment levels sink, according to The Chronicle Herald. When the budget was released in April, retail sales were forecast to grow almost four per cent in 2013. They are now forecast to shrink one per cent and Retail business owners are facing a hard year as households tighten their belts. These key economic measures were revised downward in the audited financial statements released this week for the fiscal year 2012-2013. (www.immigrantscanada.com). As reported in the news.