Global Markets: Canadian retail sales up 18.7 per cent in May

By MarketsFarm

WINNIPEG, July 21 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

Recent data from Statistics Canada showed retail sales rebounded from sharp losses incurred in March and April. Retail sales were up by almost 19 per cent in May, thanks to increases in motor vehicles and parts sales.

European Union leaders have reached a deal for a US$860 billion aid package to member states in order to mitigate the economic downturn caused by COVID-19. The aid package is a combination of grants and low-interest loans for the 27 member states.

Early trials of the COVID-19 vaccine have garnered positive results, as scientists at Oxford University say it prompted a protective immune response in the hundreds of people who participated in early trials. The vaccine also did not lead to any immediately serious side effects.

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