Canada April retail sales data
- Prior was -10.0%
- Retail sales ex autos -22.0% vs -12.0% expected
- Prior ex autos -0.4%
- Sales down 33.6% since mid-March
- Sales down in all 11 subsectors
- May early retail sales estimate from Statistics Canada +19.1%
- Ecommerce sales +120.3% y/y to account for 9.5% of total sales
- Motor vehicle and parts -44.3%
- Sales in food and beverage stores -12.7%, returning close to pre-COVID levels
- Volume of gasoline sales -18.9%
- Full report
The Canadian dollar is at the highs of the day in the aftermath of this but it's lagging behind the Australian dollar despite the oil rally. I think that reflects some of the weakness in this report. That said, flows are dominant at the moment and the mood is upbeat.
