Canada’s retail sales flat in December

Statistics Canada reported on Friday that the Canadian retail sales were virtually unchanged m-o-m at CAD51.65 billion in December, following a revised 1.1 percent m-o-m climb in November (originally a 0.9 percent m-o-m advance).

Economists had forecast a 0.1 percent m-o-m increase for December.

According to the report, the gains in sales at building material and garden equipment and supplies dealers (+3.8 percent m-o-m), as well as food and beverage stores (+0.5 percent m-o-m), were offset by declines in sales at motor vehicle and parts dealers (-1.3 percent m-o-m) and gasoline stations (-2.3 percent m-o-m).

Excluding motor vehicle and parts dealers, retail sales rose 0.5 percent m-o-m in December compared to a revised 0.5 percent m-o-m increase in November (originally a 0.2 percent m-o-m gain) and economists' forecast for a 0.4 percent m-o-m advance. Excluding motor vehicle and parts dealers and gasoline stations, retail sales surged 1.0 percent m-o-m in December.

In y-o-y terms, Canadian retail sales climbed 2.4 percent in December, following a revised 2.2 percent climb in November (originally 1.9 percent).

In 2019, Canadian retail sales rose 1.6 percent compared to 2018, the smallest increase since 2009.