The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

in si de ha lto n. co m O ak vi lle B ea ve r | T hu rs da y, A ug us t 6, 20 20 | 12 FREE DELIVERY IS A LIMITED TIME OFFER. SOME RESTRICTIONS APPLY. NO PROMO CODE REQUIRED WINGSUP.COM 2423 TRAFALGAR RD. OAKVILLE (905) 257-7878 Our COVID-19 weakened economy got some good news recently. Retail sales rebounded 18 per cent in May, as reported by CBC in July. Despite the rebound, re- tail sales are still 20 per cent below pre-COVID-19 levels. After the Canadian econ- omy suddenly switched from on to off, these rebound num- bers are a good sign the eco- nomic recovery may have started. All indications are the June numbers will re- flect continued recovery. That does not mean all re- tailers will regain the same level of financial strength they had going into this eco- nomic slowdown. The trend now is for major retailers to announce they will close some bricks-and-mortar lo- cations or shut down entire- ly. Even though some Cana- dians have shifted more of their shopping online, there is still a rough future ahead of the retail sector. The largest component of the Canadian economy is driven by consumer spend- ing. When we spend, the economy does well. Add in employment un- certainty and we can see how economically challenging the future is. If we spend our way to an economic recovery, the car- nage that could remain is Ca- nadians spending their sav- ings or adding personal debt. And what are the implica- tions if there is a second wave of COVID-19 infections in Canada? For many, the economic future is a balancing act. We all have basic requirements like food and shelter that must be purchased, but our ongoing employment uncer- tainty may cause pause be- fore we spend. Our future is both uncer- tain and challenging. Deci- sions we make now could af- fect us for many years to come. We encourage every- one to manage their finances carefully. Peter Watson, of Watson Investments MBA, CFP, R.F.P., CIM, FCSI offers a weekly financial planning column, Dollars and Sense. He can be reached at www.watsoninvestment- s.com. OPINION UNCERTAINTY AND RISK AHEAD, DESPITE RECOVERING ECONOMY CONSUMER SPENDING CRITICAL TO COUNTRY'S OVERALL WELL-BEING, BUT IT COULD HURT MANY CANADIANS IN THE LONG RUN, WRITES PETER WATSON PETER WATSON Column