1021 ET - Santa had plenty of gifts for Canadians in December, with few apparent worries in the latest retail sales report, BMO reckons. Economist Shelly Kaushik says in a report that even if the sales momentum fades in the new year, the figures add to the argument for the Bank of Canada to pause at next month's policy meeting. Sales rose 2.5% on-month in December, much strongest than expected and the best growth rate since 2022. Sales were also up 2.5% in volume terms, the strongest pace since 2021. Kaushik says while the flash estimate suggests sales fell 0.4% in January, that doesn't retrace December's jump, so markets will need to wait to see if the year-end optimism truly faded. (robb.stewart@wsj.com; @RobbMStewart)
(END) Dow Jones Newswires
February 21, 2025 10:21 ET (15:21 GMT)
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