Retail sales in Canada fell 3.4 percent month-over-month in December of 2020, the first decline since a record 24.8% slump in April and worse than market forecasts of a 2.5 percent decline. With the resurgence of COVID-19 cases in Canada, provincial governments began to reintroduce physical distancing measures, which directly affected the retail sector. Approximately 15 percent of retailers were closed during December. Core retail sales which exclude sales by gasoline stations and motor vehicle and parts dealers were down 4.6 percent. Canadian retailers finished 2020 with $606 billion in sales, down 1.4% from 2019. This was the largest annual decline since the 2009 recession. Preliminary figures for January suggest retail sales went down 3.3 percent. source: Statistics Canada
Retail Sales MoM in Canada averaged 0.38 percent from 1991 until 2020, reaching an all time high of 22.20 percent in June of 2020 and a record low of -24.80 percent in April of 2020. This page provides - Canada Retail Sales MoM - actual values, historical data, forecast, chart, statistics, economic calendar and news. Canada Retail Sales MoM - data, historical chart, forecasts and calendar of releases - was last updated on March of 2021.
Retail Sales MoM in Canada is expected to be 0.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Retail Sales MoM in Canada to stand at 0.40 in 12 months time. In the long-term, the Canada Retail Sales MoM is projected to trend around 0.40 percent in 2022 and 0.30 percent in 2023, according to our econometric models.