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MNI DATA BRIEF: Canada May Retails Seen -3.2%; Ex-Autos -2.0%

(MNI) OTTAWA
OTTAWA (MNI)

Canadian retail sales likely declined 3.2% in May, economists predict the federal statistics office will report Friday at 830am EST, as third-wave Covid lockdowns were in effect.

Investors should watch for a flash estimate for June in the report from Statistics Canada, which could show a big gain because many of the health lockdowns have eased since then. Retail sales dropped 5.7% in April after a March gain of 4.5%, again reflecting the pattern of shutdowns and re-opening through wave of Covid.

Sales excluding autos and parts are expected to decline 2% on the month, following a prior decline of 7.2%.

The Bank of Canada last week tapered QE purchases for a third time on optimism that mass vaccinations will underpin an economic rebound led by consumer spending.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
DataPolicy NewsHomepageCanadaData StoriesBriefData PreviewStoryRegionNorth America
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
DataPolicy NewsHomepageCanadaData StoriesBriefData PreviewStoryRegionNorth America

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