Retail Sales in Canada
Canada - Retail Sales
After gaining momentum in Q4 2021, preliminary data suggests the economy outperformed its G7 peers in Q1, with StatCan estimating growth of 1.4% quarter-on-quarter. Looking at the monthly picture, economic activity growth was muted in January due to Omicron and poor weather affecting energy output. However, momentum picked up in February thanks to healthy expansions in manufacturing and customer-facing services. In particular, the accommodation and food services sector saw a double-digit gain as the Omicron wave faded and associated restrictions were eased. Turning to Q2, available signs are mainly positive. In April, the unemployment rate fell to an all-time low, while the manufacturing PMI was well in expansionary territory and housing starts jumped, boding well for residential investment. However, multi-decade high inflation could be weighing somewhat on spending intentions.Canada - Retail Sales Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Retail Sales (annual variation in %) | 2.6 | 5.2 | 7.1 | 2.9 | 1.6 |
Canada Retail Sales Chart
Source: Statistics Canada.
Canada Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.70 | 1.00 % | Dec 31 |
| Exchange Rate | 1.30 | 0.15 % | Jan 01 |
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Economic News
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Canada: Inflation comes in at highest level since our records began in June
July 20, 2022
Consumer prices increased a seasonally-adjusted 0.59% in June over the previous month, coming in below May's 1.07% rise.
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Canada: House prices record slowest growth since January in June; housing starts dip
July 20, 2022
According to the Teranet-National Bank Composite House Price Index, house prices rose 1.4% in June (May: +2.3%).
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Canada: Bank of Canada hikes rates by 100 basis points in July
July 13, 2022
On 13 July, the Bank of Canada (BoC) raised its target for the overnight rate from 1.50% from 2.50%, marking the fourth consecutive rate hike this year.
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Canada: Manufacturing PMI falls in June
July 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) fell to 54.6 in June from May's 56.8.
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Canada: Economic activity growth wanes in April; flash estimate points to contraction in May
June 30, 2022
GDP grew 0.3% in month-on-month seasonally-adjusted terms in April, which was a deterioration from March's 0.7% increase.
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