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- Canada: Retail Sales fall by 1.8% in December vs. -2.1% expected decline
Canada: Retail Sales fall by 1.8% in December vs. -2.1% expected decline
- Canadian Retail Sales fell 1.8% MoM in December, above the 2.1% expected drop.
- StatsCan's flash estimate for January showed a 2.4% MoM rise.
According to a report released by Statistics Canada on Friday, Canadian Retail Sales fell 1.8% MoM in December, less than the expected 2.1% decline and a sharp deceleration from November's 0.7% MoM gain. Statistics Canada's flash estimate for January showed that Retail Sales most likely rose by 2.4% MoM, suggesting a sharp rebound in January as Omicron infection rates eased and states eased lockdown rules. The Core measure of Canadian Retail Sales fell 2.5% MoM in December, larger the expected 2.0% decline.
Market Reaction
The loonie has not reacted to the latest mixed Canadian Retail Sales figures, with focus right now much more on the Russia/Ukraine/NATO situation.
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