- Prior 1.3% revised to 1.2%
- Retail gross sales ex auto – +0.1% versus 0.3% anticipated. Prior month revised to 1.6% from 1.7%
- Gross sales C$70.0b
- Advance retail sale for January is anticipated at 1.5%
Particulars:
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Retail gross sales fell -0.4% to $70.0B in December
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3 of 9 subsectors declined, led by motorcar & components sellers
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Core retail gross sales (ex-gasoline & autos) decreased -0.3% in December
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Retail gross sales volumes had been unchanged in December
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This fall 2025 retail gross sales rose +0.1%, marking the seventh straight quarterly enhance
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This fall retail gross sales volumes fell -0.3%
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Full-year 2025 retail gross sales elevated +4.0%, led by motorcar & components sellers
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Retail gross sales volumes rose +2.3% in 2025
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Core retail gross sales fell -0.3% in December, after a +1.5% enhance in November
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Constructing materials & backyard gear sellers gross sales declined -4.0% (after two consecutive month-to-month positive aspects)
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Furnishings, house furnishings, electronics & equipment retailers fell -1.7% (second straight month-to-month decline)
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Sporting items, passion, musical instrument, e-book & miscellaneous retailers rose +1.0% (largest core achieve in December)
Under is the breakdown of the winners and losers in graphical format.
In different information of Canada PPI information for December
- Headline PPI 2.7% versus -0.9% final month
- PPI YoY 5.4% vs4.3% final month
- Uncooked Materials Costs MOM 7.7% vs 0.3% final month
- Uncooked Materials Costs YoY 8.0% vs 3.5% final month
Particulars from the CanStat
Industrial Product Worth Index (IPPI) – January
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IPPI rose +2.7% m/m (after -0.9% in December)
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Major non-ferrous metals surged +18.2%, main the month-to-month achieve
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Valuable metals drove the transfer:
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Industrial metals additionally greater:
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Power & petroleum merchandise rose +1.7% (diesel +3.4%, gasoline +2.6%)
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Softwood lumber +3.7% on tight provide from winter situations & mill closures
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IPPI up +5.4% y/y (sixteenth consecutive annual enhance)
Uncooked Supplies Worth Index (RMPI) – January
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RMPI rose +7.7% m/m
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Steel ores, concentrates & scrap +15.6% (ninth straight month-to-month achieve)
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Silver ores +41.8%
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Gold ores +9.5%
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Nickel ores +19.2%
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Copper ores +10.6%
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Crude power merchandise +4.6% (standard +4.9%, artificial +4.3%)
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RMPI up +8.0% y/y
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Annual positive aspects led by:
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Crude oil costs down y/y:
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Typical -22.1%
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Artificial -19.7%
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There have been some eye-catching strikes within the metals area in January, with gold, silver, and platinum all pushing to file highs as world geopolitical uncertainty fueled safe-haven demand. Since then, gold has pulled again from its January peak close to $5598, buying and selling presently round $5026, however notably stays effectively above the current corrective low of $4402. On the identical time, China’s implementation of silver export restrictions on January 1 has added one other layer of help to the broader valuable metals advanced.
Turning to USDCAD, the pair continues to commerce inside an outlined vary. On the topside, worth motion has remained capped under the 50% midpoint of the transfer down from the 2026 excessive at 1.37045. Consumers made an try to interrupt above that stage yesterday, however the transfer in the end stalled. On the draw back, the rising 100-hour shifting common at 1.36654 is performing as near-term help. A sustained transfer under this stage could be wanted to strengthen the bearish bias.
For now, the pair stays caught in a tug-of-war between resistance on the midpoint and help on the rising 100-hour MA — with the following directional push more likely to be decided by which aspect provides approach first.
