Canada: Retail sales expected to decline by 0.1% m/m in August – RBC CM

Research Team at RBC Capital Markets, sees Canada’s retail sales registering a 0.1% m/m decline in August, equaling the July result.

Key Quotes

“Indications are that unit auto sales fell 1.2% m/m, while gasoline station receipts should be up a modest 0.2% m/m. Excluding these two items, “core” sales should be up a decent 0.2% m/m, with perhaps some support from Canada Child Benefit cheques that were first issued in July, although we are not expecting this to be a main factor. We continue to monitor a marginal slowing in real consumer spending growth to 1.7% q/q annualized in Q3 (from 2.2% in Q2).”