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Canada December retail sales -1.8% vs -2.1% expected


Canada retail sales

  • January advance flash estimate +2.4%
  • Prior was +0.7%
  • Ex autos -2.5% vs -2.0% expected
  • Prior ex autos +1.1%
  • Ex autos and gas -2.4% vs +1.5% prior
  • New auto sales -0.4% vs +0.1% prior
  • Building material and garden equipment +14.1% vs +3.0% prior
  • E-commerce sales +14.2% vs 1.1% y/y prior
  • Full report

The advance number is more of a market mover than the current month. Economists still don’t estimate it but if they did, I suspect it would have been lower rather than than higher because of harsh lockdowns throughout the country in January. The advance estimate — if it holds — shows that consumers have largely learned to live with covid restriction (though hopefully they’re a thing of the past).



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