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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CANADA DATA
- Overall retail sales were stronger than expected, dipping -0.1% M/M in Nov contrary to the -0.5% both expected and from the initial advance release, whilst the December advance increased 0.5% vs CIBC expectations at least of another decline.
- However, some of the strength was down to autos, with sales ex-autos falling -0.6% M/M as expected in Nov, whilst core sales (ex-gasoline stations, motor vehicles & parts) saw the largest decline in 11 months with -1.1% M/M.
- Further, total retail volumes fell -0.4% M/M, continuing a weak run to levels last seen in July and before that Dec’21.
- The combination of the 3m/3m run rate of -2% annualized in Nov for real retail sales but the nominal run rate bouncing from -1.3% to +4.3% in Dec appears consistent with the BoC’s forecast that the economy stalled in late 2022 with further weakness due for 1H23.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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