Fiper | Retail sales- Core Retail Sales 21/6/2022

Core Retail

This indicator is derived from retail sales, in which the auto sales component is omitted. Retail sales excluding this rapidly changing component are believed to be the best indicator of the underlying trend of consumption. Auto sales make up about 25% of retail sales, but they can change quickly from month to month, which can distort the picture of the general index

Core retail sales, excluding autos, are forecast at 0.5%.

In the event that the statement is issued at a rate higher than expectations, it will affect the currency positively and vice versa

Retail sales

The retail sales statement determines the value of sales at the retail level, and is one of the first indicators published in the month about consumer behavior, and therefore the market is sensitive to any surprises from this report.

Preliminary estimates showed that retail sales in Canada likely rose 0.8% m/m in April of 2022. Looking at March, retail was unchanged from the previous month, compared to preliminary estimates for a 1.4% rise and 0.2% gain Upgrade in the previous month. Sales were up in 10 of the 11 sub-sectors, led by higher sales at petrol stations (+7.4%), with gasoline prices up 11.8%, in part due to uncertainty surrounding supplies in the wake of the Russian invasion of Ukraine. In contrast, the main negative contribution came from lower sales at dealers of cars and parts (-6.4%), primarily at dealers of new cars (-5.9%), amid the ongoing shortage of semiconductor chips. On an annual basis, retail trade advanced 2.7 percent in March, down from an upwardly-adjusted rise of 7.7 percent in the previous month.

Retail sales forecast is 0.8%.

In the event that the statement is issued at a rate higher than expectations, it will affect the currency positively and vice versa