November Reveal: Down Sales in Four Retail Subsectors, Decreased Volume

Summary

  • In November, four out of nine retail trade subsectors witnessed a decline in sales, representing 43.5% of the industry.
  • Retail sales volume saw a reduction of 0.2% during this period.
  • The monthly and yearly percentage changes for November and the revised and previous figures for October were as well captured.
  • Total retail trade reduced by 0.2%, however, it saw a year-on-year increase of 1.8%, and monthly increases of 0.5% and 0.7% in October.
  • Excluding autos/parts, retail trade reduced by 0.5%, witnessed a marginal increase of 0.1% year-on-year, and saw monthly increases of 0.4% and 0.6% in October.
  • The exchange rate stood at 1 Canadian Dollar equals $1.3494.

Narrative

Last November, a contraction occurred in nearly half of the retail trade subsectors. Precisely, four out of nine of these subsectors, which make up 43.5% of the industry, experienced a dip in sales. Additionally, the volume of retail sales was recorded at a 0.2% decrease.

The percentage changes for November and the revised and preliminary numbers for October were also tracked. When observed month-on-month and year-on-year, total trade decreased by 0.2%, but noted a 1.8% growth year-on-year, and a 0.5% and 0.7% increment in the months of October.

On removing the consideration of autos and parts from retail trade, the decline was deeper at 0.5%, although it did see a slight rise year-on-year at 0.1%, and monthly rises of 0.4% and 0.6% in October.

As regards the currency exchange at that time, 1 Canadian Dollar exchanged for $1.3494.

Forex Impact

The reported contraction in the retail sector and the specific exchange rate can have implications on forex trading and related assets, impacting value and profitability.

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