Canada December retail sales report now out 22 Feb
- 0.2% prev
- ex autos mm -1.8% vs 0.3% exp vs 1.6% prev
Awful readings but I did say in my preview that the data can be flaky/volatile and to have your entry/exit levels ready.
USDCAD spikes higher to 1.2760 but now back to 1.2738. How did you fair in that?
Says the stats bureau:
- Following three consecutive monthly increases, retail sales decreased 0.8% in December to $49.6 billion. Despite this decline, retail sales were up 1.5% in the fourth quarter and up 6.7% for the year.
- Sales fell in 6 of 11 subsectors, representing 42% of retail trade.
- Lower sales at general merchandise; health and personal care; and electronics and appliance stores more than offset gains at motor vehicle and parts dealers and food and beverage stores. Excluding motor vehicle and parts dealers, retail sales decreased 1.8%
- Sales at Canadian store retailers grew 6.7%, the highest annual growth rate since 1997, reaching $588 billion in 2017. The increase was partially attributable to higher prices, as sales in volume terms were up 5.4%. Sales were up in every province, with Ontario (+6.4%) leading the way. Retail sales bounced back in Alberta (+7.5%) following declines in 2015 and 2016.
Full report here
The Retail Sales report is monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term
