The jump in retail sales in December was partly due to the GST holiday, but also reflected strong gains in sectors that were unaffected by tax changes. Nonetheless, with sales dropping back in January, this release doesn’t move the needle for the Bank of Canada’s interest rate decision next month, which will ultimately hinge on the fourth-quarter GDP release next week and whether the US tariffs scheduled for 4th March come into effect or not.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services