Canada: Retail Sales rise by 0.7% MoM in November versus 1.2% forecast

According to a report released by Statistics Canada on Friday, Canadian Retail Sales rose 0.7% MoM in November, less than the expected 1.2% rise and a sharp acceleration from October's 1.5% MoM rise (which was revised lower from 1.6%). Statistics Canada's flash estimate for December showed that Retail Sales most likely fell by 2.1% MoM, suggesting a sharp downturn in the final month of 2021 as Omicron infections raged.