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- Canada: Retail Sales rise by 0.7% MoM in November versus 1.2% forecast
Canada: Retail Sales rise by 0.7% MoM in November versus 1.2% forecast
- Canadian Retail Sales grew 0.7% MoM in November, below the 1.2% expected.
- StatsCan's flash estimate for December showed a 2.1% MoM drop.
According to a report released by Statistics Canada on Friday, Canadian Retail Sales rose 0.7% MoM in November, less than the expected 1.2% rise and a sharp acceleration from October's 1.5% MoM rise (which was revised lower from 1.6%). Statistics Canada's flash estimate for December showed that Retail Sales most likely fell by 2.1% MoM, suggesting a sharp downturn in the final month of 2021 as Omicron infections raged. The Core measure of Canadian Retail Sales rose 1.1% MoM in November, below the expected 1.3% gain and a decceleration from October's 1.3% gain.
Market Reaction
The loonie did not seem to react much to the latest Canadian Retail Sales report.
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