Canada: Retail Sales forecasted at 1.3% m/m advance – RBC CM

Research Team at RBC Capital Markets, forecast a 1.3% m/m advance for Canada’s retail sales in April following a 1.0% decline in March.

Key Quotes

“Indications are that motor vehicle sales should be up 2.8% m/m while nominal gasoline station receipts should be 4.6% m/m higher on the back of higher prices in the month. Excluding those two components, core sales should be up a more modest 0.2% m/m, offsetting the equivalent decline in the category in March. We expect a 0.7% m/m gain on a volumes basis, driven by the higher motor vehicle sales.”