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Retail Sales For Oct/Nov Advance – 0830ET

CANADA DATA
  • Retail sales for Oct/Nov advance are released at 0830ET today as a taster for tomorrow’s monthly GDP print for the same period.
  • Consensus looks for values to have increased 0.8% M/M, per last month’s advance estimate, after 0.6% M/M in Sep. The picture is seen as slightly softer on an ex-autos basis, rising 0.5% M/M after 0.2%.
  • Overall retail volumes for October will be worth watching, having increased just 0.2% M/M in Sep after three monthly declines worth -0.8% through Jun-Aug.
  • This of course misses consumer spending on services. Overall household consumption increased just 0.1% annualized in Q3, split -1.5% for goods and +1.4% for services.

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