Canada: Retail Sales Rise by 0.7% MoM in November

According to a report released by Statistics Canada on Friday, Canadian Retail Sales rose 0.7% MoM in November, less than the expected 1.2% rise and a sharp acceleration from October’s 1.5% MoM rise (which was revised lower from 1.6%). Statistics Canada’s flash estimate for December showed that Retail Sales most likely fell by 2.1% MoM, suggesting a sharp downturn in the final month of 2021 as Omicron infections raged. The Core measure of Canadian Retail Sales rose 1.1% MoM in November, below the expected 1.3% gain and a deceleration from October’s 1.3% gain.