Retail Sales Stabilize Around 0.5% in August in Canada
Canadian retail sales have come off the highs in the last 2 months
Skerdian Meta•Wednesday, October 21, 2020•1 min read
Retail sales took a deep plunge in Canada during the lock-down months, posting a 10% decline in March and a 26% decline in April. But, the situation reversed in May, as the country reopened and sales increased by more than 20% in May and June. They cooled off in July though and in August they stabilized around 0.5%.
Canada August retail sales data
- August retail sales +0.4% vs +1.1% expected
- September retail sales were +0.6%
- Sales ex autos +0.5 vs +0.9% expected
- Prior ex autos -0.4%
- Ex autos and gas +0.4%
- Building materials and garden equipment +4.5%
- Clothing flat on the month and still down 11.8% from pre-pandemic levels
The YoY changes on this chart really highlight the pandemic-inspired changes. Building materials are up 17.1% as well on an annualized basis.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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