Retail Sales Core (MoM) (Canada)
Core Retail Sales Have Declined in Three Out of the Last Four Months in Canada
Starts Friday, November 22, 2019 at 13:30
Updated Friday, November 22, 2019
Retail sales turned negative in November last year as the report released in January showed. Headline retail sales were expected to post a 0.6% decline but the decline was larger as they fell by 0.9%. Core retail sales also declined more than expected, by 0.6% against -0.4% expected. October's number was also revised to negative from 0.0% to -0.2%. So, both retail and core retail sales closed last year with two negative months. In January things were expected to change as sales were expected to increase, but they posted yet another decline of 0.3%, making it the third negative month in a row. Although, in February they jumped 0.8% higher, while core sales increased by 0.6%. The report released last month which was for March showed a bigger increase of 1.1% for headline retail sales and a 1.7% increase for core sales. But the report for June showed only a decline in both, core and headline sales. Last month's report showed that headline sales remained flat in June while core sales posted a strong increase of 0.9%. In July, core sales turned negative again, declining by 0.1%, while in August core sales declined by 0.2%,while headline sales fell 0.1% lower. Please follow us for live coverage of this event by experienced analysts.
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About Retail Sales Core (MoM) (Canada)
Released monthly by Statistics Canada, Core Retail Sales (MoM) is a measure of the change in the aggregate value of goods sold by retail merchants. This metric excludes sales from the automobile sector.Core Retail Sales is based upon retailers of various types and sizes. It is meant to be a measure of both consumer confidence and performance of the retail sector. Higher than projected readings indicate economic growth and a bullish view of the CAD. Reports that disappoint estimates are viewed as bearish toward the CAD.