Global Markets: U.S. retail sales fall drastically

By MarketsFarm

WINNIPEG, May 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
Retail sales in the United States fell by 16.4 per cent from March to April, setting a new record decline. The previous record was set during the month prior, when sales dropped by 8.3 per cent. Businesses have shuttered due to restrictions in place to quell the spread of COVID-19.

Canadian cannabis company Aurora Cannabis posted deep third quarter losses despite stronger cannabis sales and reductions in costs. The producer reported a net loss of C$137.4 million, which is an improvement from the C$1.3 billion lost in the prior quarter. Shares in the company have fallen by more than 93 per cent over the last year.

Germany’s economy has contracted by 2.2 per cent during the first quarter of 2020, which is the worst quarter since the 2009 financial crisis. The country is officially in a recession.

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