Canada: Firm retail sales likely to result in upgraded economic assessment - ANZ

Analysts at ANZ note that the Canadian retail sales came in firmer than expected, up 2.2% m/m (mkt: 1.5%) from an upwardly revised.

Key Quotes

“The data add to the continued out-performance of Canadian releases of late. The Citi Surprise index is now at the highest level since 2010. Bank of Canada has yet to acknowledge the better data instead noting continued slack in the labour market, elevated uncertainty, and diverging growth prospects with the US. The BoC is likely going to have to upgrade its economic assessment over the short term.”