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Canada economy seen shrugging off limp retail data

  • Retail sales down, analysts say discounting the cause
  • Canada would gain from US recovery, end to Europe crisis
  • Wholesale sales rise more than expected
OTTAWA, Feb 21 (Reuters)
Retail sales in Canada dipped during the holiday shopping season, but the economy is still performing relatively well and should hold up in early 2012, analysts said.

Statistics Canada data showed retail sales dipped by 0.2 percent in December from November, the first fall in five months.

The decline, led by lower gas and auto sales as well as a weak performance at most stores, matched analysts’ expectations.