- Analytics
- News and Tools
- Market News
- Canada's consumers bounced back during the third quarter – NBC
Canada's consumers bounced back during the third quarter – NBC
Krishen Rangasamy, a Senior Economist at National Bank of Canada (NBC), suggests that the rebound in consumption likely allowed Canada’s economic expansion to continue in the third quarter despite the drag from trade.
- “Canada’s retail sales fell 0.1% in September, better than the -0.3% print expected by consensus. Moreover, the prior month was revised up to +0.1% (from -0.1%). Sales were down in 6 of the 11 subsectors in September, including a 1% drop for autos/parts dealers.
- In real terms, Canada’s retail sales fell 0.1% in September. For Q3 as a whole, however, retail volumes were up 1.9% annualized.
- September’s retail report was better than expected, more so considering the prior month’s upward revisions. While retail volumes were down slightly during the month, the quarterly picture is much more positive. Note that real retail spending grew 1.9% annualized in Q3, contrasting sharply with the prior quarter’s weakness.
- The improved performance from consumers in Q3 was made possible by a resilient labour market (recall that 110K net new jobs were created in the quarter according to the Labour Force Survey), Canada Child Benefit payments to households (which were enhanced in July), and savings from belowseasonal pump prices.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
