Retail Sales Month on Month

Local Time:
Feb 22 2024 |
8:30 am - 9:00 am

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Canada Retail Sales month on month show changes in the volume of goods sold by retailers to households (in monetary terms) in the specified month compared to the previous month. The indicator is calculated based on survey of retail stores of different types and sizes. The calculation includes large supermarkets and small stores, and separately retail e-commerce sales. The calculation does not include vending machine operators, fuel dealers and other direct selling establishments. The calculated index is seasonally adjusted, as some months are considered to be peak periods in terms of retail sales.

Retail sales data provide a key monthly indicator of consumer behavior in Canada. It is also an important component of GDP. The Bank of Canada takes this indicator into account when adopting the interest rate decision. Companies use the retail sales index to track operational efficiency and prepare investment strategies.

The publication of the retail sales report may affect the Canadian dollar quotes. A slowdown in the growth of retail sales shows that consumers have reduced their spending level. This may lead to a decline in economic activity and have a negative effect on the Canadian dollar.

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