Mixed signals for central bank policymakers ahead of rate decision

  • Retail sales in Canada fell 0.2% in November
  • Retail sales rose 0.8% in December
  • Retail sales in November were 1.8% higher compared to the previous year
  • December sales are expected to be the strongest month since April
  • Sales at food and beverage retailers dropped 1.4% in November
  • Core retail sales declined 0.6% from October
  • Price-adjusted sales slipped 0.2% in volume terms
  • Bank of Canada expected to keep interest rates steady
  • Economists anticipate little growth in the Canadian economy in the last quarter of 2023

Canadians cut back on spending at retailers in November, with retail sales falling 0.2%. However, sales rebounded in December, rising 0.8%. Compared to the previous year, retail sales in November were 1.8% higher. December sales are expected to be the strongest month since April. Food and beverage retailers saw a decline of 1.4% in November, while core retail sales declined 0.6% from October. In volume terms, price-adjusted sales slipped 0.2%. The Bank of Canada is expected to keep interest rates steady, and economists anticipate little growth in the Canadian economy in the last quarter of 2023.

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Factuality Level: 7
Justification: The article provides information on the increase in retail sales in December according to Statistics Canada’s advance estimate. It also mentions the decline in sales in November and provides details on the different subsectors that experienced lower sales. The article includes some background information on interest rates and inflation, as well as expectations for the Bank of Canada’s rate decision. Overall, the article provides factual information but lacks in-depth analysis and context.

Noise Level: 6
Justification: The article provides information on retail sales in Canada during the holiday season and its implications for central bank policymakers. It includes data from Statistics Canada and mentions the performance of different subsectors. However, the article lacks in-depth analysis, scientific rigor, and actionable insights. It mainly focuses on reporting the numbers without providing a broader context or exploring the consequences of the data on the economy or consumers.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on retail sales in Canada, which can impact the performance of retail companies and potentially affect the overall economy.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses retail sales data in Canada, which is relevant to financial topics and can impact financial markets and companies.

Reported publicly: www.marketwatch.com