Canada: Retail sales forecasted at 1.3%m/m in April – RBC CM

Sue Trinh, Senior Currency Strategist at RBC Capital Markets, forecasts a 1.3%m/m advance for Canada’s retail sales in April following a 1.0% decline in March.

Key Quotes

“This is ahead of consensus for 0.8%m/m. Excluding auto, RBC expects a more modest 0.2% m/m gain (cons: 0.6%). In volume terms, we expect a 0.7% m/m gain on a volumes basis, driven by the higher motor vehicle sales.”