Canada: Retail Sales rise by 0.7% MoM in November versus 1.2% forecast
|- Canadian Retail Sales grew 0.7% MoM in November, below the 1.2% expected.
- StatsCan's flash estimate for December showed a 2.1% MoM drop.
According to a report released by Statistics Canada on Friday, Canadian Retail Sales rose 0.7% MoM in November, less than the expected 1.2% rise and a sharp acceleration from October's 1.5% MoM rise (which was revised lower from 1.6%). Statistics Canada's flash estimate for December showed that Retail Sales most likely fell by 2.1% MoM, suggesting a sharp downturn in the final month of 2021 as Omicron infections raged. The Core measure of Canadian Retail Sales rose 1.1% MoM in November, below the expected 1.3% gain and a decceleration from October's 1.3% gain.
Market Reaction
The loonie did not seem to react much to the latest Canadian Retail Sales report.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.