Understanding the Impact of Canadian Retail Sales on Economic Outlook
Friday, 22 March 2024, 12:12
Crucial Insights from Canadian Retail Sales Report
Talk of a Bank of Canada rate cut is growing nearer after softer CPI readings in January and February but so far the consumer has held up. That could change with today's Canadian retail sales report at the bottom of the hour. The consensus is for a 0.4% decline on both the headline and ex-autos. The preliminary reading was -0.6% and the most-impactful number might be the preliminary March number.
Recent commentary from Nike, Lululemon and Couche-Tard suggests some strain from consumers, particularly at the low end.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.