Headline Retail Sales Dive in Canada, But Core Sales Hold Up - Forex News by FX Leaders
Sales decline, with markets remaining empty

Headline Retail Sales Dive in Canada, But Core Sales Hold Up

Posted Friday, May 22, 2020 by
Skerdian Meta • 1 min read

The retail sales report for March from Canada was released a while ago. Last year, retail sales were sort of volatile, turning positive and negative from month to month. But, with the lock-down due to the coronavirus, everything has one downhill all across the globe. Sales posted a massive decline for March, but the core sales only posted a small decline. Below is the retail sales report for March:

Canada March Retail Sales Data

  • February core sales was +0.3%
  • First decline in five months
  • Ex autos -0.4% vs -4.8% expected
  • Reports says “about 40% of retailers closed their doors during March”
  • Retail e-commerce +16.3%
  • Motor vehicle and parts dealers -35.6%
  • Food and beverage +22.8%
  • Statistics Canada estimates that April retail sales fell 15.6%
The ex-autos headline was much stronger than anticipated but March is ancient history at this point and I don’t think it matters. Canadians reacted to the pandemic about the same as everyone else. The E-commerce and the food and beverage sales increased considerably. Although, the estimates for April are much worse, as the last pointer shows, so the worst is yet to come.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments