Retail Sales Core (MoM) (Canada)
Sales Turned Down Again in July
Starts Wednesday, October 21, 2020 at 12:30
Updated Wednesday, October 21, 2020
In January this year, retail sales were expected to increase after several negative months in 2018. 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. In October, headline sales posted a big 1.2% decline, while core sales declined by 0.5%. In December we saw a 0.5% increase in core sales, while headline sales fell flat, but core sales declined by 0.1% in January. Core sales fell flat again in February, but declined by 0.4% in March, which is not much compared to the 10% decline in headline sales but April was much worse though. In May and June we saw some strong numbers, but in July headline sales cooled off to 0.6%, while core sales declined by 0.4%. 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.