{"id":18029,"date":"2016-02-20T09:53:17","date_gmt":"2016-02-20T14:53:17","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18029"},"modified":"2016-02-20T09:53:40","modified_gmt":"2016-02-20T14:53:40","slug":"forget-deflation-stagflation-arrives-in-canada","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18029","title":{"rendered":"Forget Deflation. Stagflation Arrives in Canada"},"content":{"rendered":"<header>\n<h3 class=\"entry-title\"><a href=\"http:\/\/wolfstreet.com\/2016\/02\/19\/stagflation-visits-canada\/\" target=\"_blank\">Forget Deflation. Stagflation Arrives in Canada<\/a><\/h3>\n<\/header>\n<div class=\"entry-content\">\n<p><strong>Worst Plunge in Retail Sales since 2008. Inflation Whacks Consumers<\/strong><\/p>\n<p>Retail sales in Canada fell 2.2% in December from November on a seasonally adjusted basis, but not adjusted for inflation, to C$43.2 billion. \u201cDeclines were widespread as lower sales were reported in 10 of 11 subsectors, representing 97% of retail trade,\u201d\u00a0<a href=\"http:\/\/www.statcan.gc.ca\/daily-quotidien\/160219\/dq160219b-eng.htm?HPA\" target=\"_blank\">Statistics Canada<\/a>\u00a0said.<\/p>\n<p>It blamed the weather. I mean,\u00a0<em>really<\/em>. \u201cLater snowfalls and unseasonably warm weather in many parts of Canada may have contributed to lower seasonal purchases.\u201d It said this right after saying that the decline was widespread, and therefore beyond winter jackets, thermal underwear, and fuzzy earmuffs.<\/p>\n<p>Motor vehicle sales dropped 3.9%, with sales at new car dealers falling 4.1%. In dollar terms, given the magnitude of motor vehicle sales, it was the largest decrease among all subsectors. But wait\u2026 \u201cUnseasonably warm weather\u201d in the winter is great for car sales, so they should have jumped!<\/p>\n<p>On the other hand, the sub-category of \u201cother motor vehicles dealers\u201d includes snowmobiles, and there sales plunged 6.7%, down for the third month in a row. In this subsector of motor vehicle sales, the weather likely did played a role. But then, sales also fell 2.5% at used car dealers though warmer weather should have really helped them.<\/p>\n<p>Which leaves us stumped about the weather excuse.<\/p>\n<p>Then the really bad news, StatCan put it: \u201cStore types typically associated with holiday shopping registered weaker sales in December,\u201d with sales at general merchandise stores down 2.2%, falling for the second consecutive month in a row; clothing and accessory stores down 3.6%; electronics and appliance stores down 3.0%, the fourth month of falling sales in six; sales at sporting goods, hobby, book and music stores down 2.3%.<\/p>\n<p>And it was spread across the country. Retail sales dropped in nine of the 10 provinces and in all 3 territories. Only exception: tiny Prince Edward Island, where retails sales were flat.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Forget Deflation. Stagflation Arrives in Canada Worst Plunge in Retail Sales since 2008. Inflation Whacks Consumers Retail sales in Canada fell 2.2% in December from November on a seasonally adjusted basis, but not adjusted for inflation, to C$43.2 billion. \u201cDeclines were widespread as lower sales were reported in 10 of 11 subsectors, representing 97% of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[103,202,3571,3303,1936,4254,4255],"class_list":["post-18029","post","type-post","status-publish","format-standard","hentry","category-economics","tag-canada","tag-deflation","tag-retail-sales","tag-stagflation","tag-statistics-canada","tag-wolf-richter","tag-wolfstreet"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18029"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18029\/revisions"}],"predecessor-version":[{"id":18031,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18029\/revisions\/18031"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}