Market news
20.12.2019, 16:07

Canada's retail sales fell sharply in October - RBC

Analysts at RBC Financial Group note that Canada's retail sales fell 1.2% in October as 8 of 11 sectors posted declines.

  • "The larger-than-expected 1.2% drop in sales in October - which was an even larger 1.4% drop excluding the impact of price-changes - caps off a month of broadly soft economic data reports following earlier-reported declines in October wholesale and manufacturing sale volumes. The numbers will keep concerns alive that the domestic Canadian economic growth backdrop has lost its footing somewhat at the end of the year, particularly after an unusually bad looking November employment report.
  • To be sure, all of these monthly reports are volatile, perhaps the employment numbers most of all. The retail numbers in particular still look oddly soft given what has been an unspectacular but still decent household income backdrop. Even in that ugly November employment report, strong wage growth meant that household income growth still looked okay. And the external growth backdrop has begun to look a little less scary with US/China trade tensions easing. Still, Q4 GDP growth now looks like it's tracking firmly below the Bank of Canada's call for a 1.3% increase (and our own 1.4% call), and economic data releases, particularly the next Canadian labour market report, will be watched just that much more closely for confirmation that soft October/November data to-date has been more monthly volatility than new trend."

© 2000-2024. All rights reserved.

This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Bank
transfers
Feedback
Live Chat E-mail
Up
Choose your language / location