UPDATE 2-Surging retail sales lift hopes for Canada economy

Newswire

* Retail sales grow far more than expected * Rising gasoline prices explain much of the gains * Economists expect GDP growth in June * Canadian dollar rises to two-week high (Adds analysts comments, details) By Louise Egan OTTAWA, Aug 24 (Reuters) - Canadian retail sales grew much faster than expected in June, the latest in a series of upbeat economic numbers to raise hopes the economy is pulling out of recession. Sales jumped 1 percent from May, far surpassing forecasts for a ...

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