Canadian Data Disappoints Markets
Friday saw a raft of disappointing data releases from Canada, raising further questions regarding the economic health of the Canadian economy already reeling from the sharp declines in the price of oil.
In a report released by Statistics Canada on Friday, both core consumer price inflation and regular consumer price inflation posted surprise increases. Canadian core CPI increased to a seasonally adjusted figure of 0.3%, rising considerably from the -0.4% recorded in the in December. The figure also surpassed analyst’s expectations for a 0.2% increase.
Meanwhile, regular Canadian consumer price inflation rose to 0.2% on a monthly basis, higher than the -0.5% recorded in the preceding month. This came after analysts had been expecting Canadian consumer price inflation to show a decline of -0.1% for January.
Whilst the consumer price inflation posted surprise increases, the Canadian retail sales figures disappointed markets, posting a surprise decrease.
Retail sales in Canada fell to -2.2% in January, down from the 1.7% recorded in December. This disappointing set of figures came after analysts had been expecting retail sales to post a decline of only -0.6% last month.
Meanwhile, Canadian core retail sales fell to a seasonally adjusted -1.6% in January, a considerable decline from the 1.0% recorded in December, with December’s figure having already been revised down from 1.1%. This came after analysts had been expecting Canadian core retail sales to decline -0.5% for January.
Latest posts by Daniel Simmons (see all)
- 4 Things to Know in Monday’s Market - September 12, 2016
- 4 Things to Know in Thursday’s Market - September 8, 2016
- 4 Things to Know as EOG Resources Merges With Yates Petroleum in $2.5 Billion Deal - September 7, 2016