• Canada’s retail sales rise much more than forecast in November

Notícias do Mercado

22 janeiro 2021

Canada’s retail sales rise much more than forecast in November

Statistics Canada announced on Friday that the Canadian retail sales rose 1.3 percent m-o-m to CAD55.19 billion in November, following an unrevised 0.4 percent m-o-m advance in October.

Economists had forecast a 0.1 percent m-o-m uptick for November.

According to the report, sales increased in 7 of 11 subsectors in November, accounting for 53.4 percent of total retail sales. Sales at food and beverage stores and e-commerce sales contributed the most to the growth, surging 5.9 percent m-o-m and 2.7 percent m-o-m respectively. Meanwhile, sales at motor vehicle and parts dealers declined 0.9 percent m-o-m, recording their first monthly drop since April. Excluding motor vehicle and parts dealers, retail sales jumped 2.1 percent m-o-m in November compared to a flat m-o-m performance in October and economists’ forecast for a 0.3 percent m-o-m increase. Core retail sales, which excludes gasoline stations and motor vehicle and parts dealers, increased 2.6 percent m-o-m in November after advancing 0.3 percent m-o-m in October.

In y-o-y terms, Canadian retail sales climbed 7.5 percent in November, following a revised 7.3 percent increase in October (originally a 7.5 percent surge).

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