Retail Sales Core (MoM) (Canada)

Event Date: Friday, July 21, 2023
Event Time: 12:30 CET

A Slowdown to 0.5% Expected in Retail Sales

Updated Monday, July 17, 2023
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%. After some volatile numbers, sales stabilized in February and March this year, but they declined again in April and in May, as coronavirus restrictions returned in the country. Sales turned positive in April after declining in March, and in May, they are expected to show a 0.5% increase. 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.
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4 years ago

News is positive for CAD then why CAD is declining against USD?

Skerdian Meta
4 years ago

The CAD is closely correlated to crude Oil and oil has been bearish recently, hence the decline in the CAD

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