Canada: Retail sales data could mean a weaker than expected December GDP – CIBC

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Canada: Retail sales data could mean a weaker than expected December GDP – CIBC By MSalordFX Canada RetailSales Banks

the advance was modest in November, and warn that all of that ground and more appears to have been given back in December.“Canadian retail sales posted a modest advance in November, but all of that ground and more appears to have been given back in December. The increase of 0.7% in November was a little weaker than the advance estimate and the consensus forecast , and reflected only a modest 0.2% advance in volume terms. Meanwhile the early estimate for a 2.

“Signs of softening in the economy before the worst of the case counts and restrictions hit may also tip the scales slightly in terms of the Bank of Canada holding rates next week and waiting for signs of a recovery before hiking.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

 

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