Getting shoppers through the door and hearing the ring of the tills is the great driver of almost every domestic economy. This week Canada’s shopping habits are under the spotlight on Friday 22nd with six events at 12.30pm GMT.
The monthly Consumer Price Index is one of only a few non-seasonally adjusted figures and is taken very seriously due to its wide remit and early release. It has a direct connection to inflation. Last month it crept from negative to neutral (0.0%) and that should stay the same though a positive figure would be well received.
Core Retails Sales is far less stable having gone from 1.5% down to -0.1% and back to 0.7% in the last three months. Forecasts are anybody’s guess at this point.
Also out at the same time are Common CPI yearly change, Median CPI yearly change, Retails Sales monthly figures and Trimmed CPI yearly change. Both Median CPI and Trimmed CPI have been regaining ground, while Common CPI hasn’t changed for some time, but Retails Sales is volatile and heading towards the negative if the current curve is any indication.
Some are worried that Trudeau’s changes could lead them towards recession so traders will be poring over the data to see if the public are confident about spending.