According to CoinMeta, Andrew Grantham, an economist in the Capital Markets department at Imperial Bank of Canada, stated that Canada's retail sales grew by 0.6% in June, showing a solid performance. However, a key conclusion from the Canadian Statistics Agency's retail report for June is that the growth momentum seen in the second quarter seemed to have stalled in July. The data agency's preliminary estimate for July indicates that retail sales fell by 0.8% on a month-over-month basis. Grantham noted that given the increase in gasoline prices that month due to the United States resuming sanctions against Iran, the final figures for that month may be even weaker.