Canada retail sales for January 2019
- prior was -0.1% revise 2-0.3%
- Ex auto 0.1% versus 0.1% expected . Prior month revised to -0.8% from -0.5% previously reported
- e-commerce sales account for 3.4% of total retail sales verse Decembers 3.6% (revised from 3.7%)
- sales fell in 4 of 11 subsectors representing 52% of total retail trade
- supermarkets was the largest contributor at +0.12%
- new-car dealers was the biggest downside at -0.51%
The headline retail sales was much weaker than expected and the December numbers were revised lower as well
Ex Auto was not as bad - coming in vs the expectations of 0.1%. However, the prior month was also revised lower to -0.8% from -0.5% previously reported.
The end of year ended weak and 2019 is also looking like it is off to a slow start too.
The USDCAD has moved higher, trading at fresh session highs after the reports.
