- Prior month 0.5% revised to 0.4%
- Retail sales for May versus .0% expected
- Prior month Ex Autos +0.1% revised to 0.0%
- Retail Sales 1.2% ex Auto vs 1.4% expected
- sales were up in all nine subsectors, led by increases in gasoline stations and fuel vendors
- Core retail sales excluding gasoline and fuel vendors (+3.1%) and motor vehicle and parts dealers (up 0.7%)were up 0.9% (versus 0.7% last month).
- In volume terms, sales at gasoline stations and fuel vendors fell -2.7% in May.
- Advanced June retail sales suggests that sales increased 0.4% in June
Details by provinces:
- British Columbia: Retail sales rose 2.1%, the largest provincial gain in dollar terms, driven by stronger sales at motor vehicle and parts dealers.
- Vancouver CMA: Retail sales increased 3.4%.
- Ontario: Retail sales increased 0.5%, supported by higher sales at gasoline stations and fuel vendors.
- Toronto CMA: Retail sales rose 0.8%.
- Nova Scotia: The only province to post a decline, with retail sales falling 0.8%, led by weaker sales at motor vehicle and parts dealers.
The USDCAD is little changed after the report. For the day, the USDCAD is near unchanged at 1.4086. The price remains above both its 100 and 200 hour moving averages near 1.4063 and 1.4068. Staying above keeps the buyers more in control. Moving below would tilt the short-term bias to the downside. The current price is trading at 1.40868.
This article was written by Greg Michalowski at investinglive.com.
