Retail Sales Core (MoM) (Canada)
Retail Sales Turned Negative Again in Canada
Starts Friday, August 23, 2019 at 12:30
Updated Friday, August 23, 2019
Retail sales turned negative in November 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 that 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 released in June showed only a 0.1% increase for both core and headline sales. Last month, sales turned negative declining by 0.1% while core retail sales fell by 0.2% 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.