Canada retail sales dropped -3.4% mom to CAD 53.4B in December, below expectation of -2.5% mom. That’s also the worst decline since last April. Ex-auto sales dropped -4.1% mom, below expectation of -2.4% mom.
Sales were down in 9 out of 11 subsectors, representing 83.6% of retail sales. Also, sales were down in every province for the first time since April.
