Canada Core Retail Sales m/m reflect the change in retail sales (in monetary terms) in the reported month compared to the previous one. The index calculation does not include auto and spares sales, which tend to be very volatile.
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.
The chart of the entire available history of the "Canada Core Retail Sales m/m" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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