Canada: Nominal retail sales expected to gain 0.4% m/m in June – RBC CM

Research Team at RBC Capital Markets, suggests that the Canada’s nominal retail sales are expected to gain 0.4% m/m in June following a 0.2% m/m reading in May.

Key Quotes

“Signs are that auto sales will be up in the month, while gasoline station receipts should fall by ~1% on lower prices. Excluding those two items, ‘core’ sales should be flat following a strong 0.7% m/m gain in May. We see a volumes gain equivalent to the 0.4% nominal increase in June.”