Core Retail Sales 21/1/2022
This article includes an explanation of core retail sales in Canada, a review of past data and forecasts for today's data and its impact on the currency
This indicator is derived from retail sales without the auto component. Retail sales excluding this rapidly changing component are believed to be the best indicator of the underlying trend of consumption. Auto sales make up about 25% of retail sales, but they can change quickly from month to month, which can distort the picture of the general index
Retail sales in Canada likely rose 1.2% month-over-month in November of 2021, preliminary estimates showed. Considering October, retail sales increased 1.6% over a month earlier, rebounding from a downwardly revised 0.3% decline in September, and faster than preliminary estimates of a 1.0% advance. Sales increased in 7 of the 11 sub-sectors, with overall growth driven by the recovery in motor vehicle and parts dealers (+2.2%), as new car dealer sales (+2.8%) bounced back from two straight monthly contractions. Across major Canadian provinces, gains were led by Ontario (+1.9%), Alberta (+3.8%), while Quebec posted the nation’s only contraction (-0.2%). On an annual basis, retail trade hiked 5.3% in October, quickening from an upwardly revised 5% advance in September.
Estimate for today's data 1.1%
In the event that the issuance was higher than expectations, it will affect the currency positively and vice versa
The statement will be issued at 3:30 pm Beirut time
Tags : CAD