🇨🇦CANADIAN RETAIL SALES SURGE, SIGNALING STRONGER CONSUMER DEMAND Canada's retail sales posted solid gains in August, with preliminary da…
🇨🇦CANADIAN RETAIL SALES SURGE, SIGNALING STRONGER CONSUMER DEMAND
Canada's retail sales posted solid gains in August, with preliminary data pointing to continued growth in September.
🔸 August retail sales: +1.2% M/M, +5.4% Y/Y
🔸 Ex-autos: +1.2% M/M
🔸 Ex-autos, parts and gasoline: +1.1% M/M
🔸 September flash estimate: +0.7% M/M
The key takeaway: Resilient consumer spending could complicate the Bank of Canada's case for further interest-rate cuts.