CANADA, U.S. RETAIL TRaFFIC DIPS

Consumers pulled back from visiting stores in Canada and the U.S. last week, a new setback for retail’s tentative recovery amid coronavirus flare-ups. After more than two months of improvement, retail traffic worsened for the week ended July 3, down nearly 52 per cent from the same period a year ago, according to location-data provider Prodco Analytics. That erased gains made since mid-June. The decline marks the first for North America store visits since April, shortly after the spread of COVID-19 prompted a widespread shutdown of retail establishments. Stores remained closed for nearly two months before beginning to reopen in May. Rising virus cases may be causing the latest pullback, along with hot weather attracting people to newly opened beaches and parks instead of stores, said Poonam Goyal, an analyst with Bloomberg Intelligence.