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In the first quarter’s revised U.S. gross domestic product (GDP) numbers, we found consumer spending in the U.S. economy was slow, dragging U.S. economic growth lower. Going forward, I can’t help but to expect more of the same. We are already getting warnings from major financial institutions that U.S. GDP growth in the second quarter will be dismal. The Goldman Sachs Group, Inc expects the U.S. economy to grow at only 0.8% in the second quarter. The Royal Bank of Scotland Group and Barclays …
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Will the Canadian Dollar Increase in Value?
The Canadian dollar increased in value as Canadian retail sales numbers were released for the month of May. In April, these numbers were worse than expected with a -0.4% decrease in retail sales. That said, prior to the release of today's retail sales numbers, it was believed that the retail figures would increase slightly to 0.4% over April's numbers. However, much to everyone's surprise, Canada's retail sales increased by 1.9% in May - the most rapid rate of growth since over two years ago in…