MNI China Daily Summary: Wednesday, July 10

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RBC See Retail Sale Volumes Falling In March

CANADA
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  • Ahead of Friday's retail sales release for March/the April advance, RBC write that their own cardholder tracking is in-line with StatCan's advance estimate of a flat March.
  • "Sales at gas stations likely increased by 1.2% as gas prices were up during the month. But unit auto sales were down 3% on a seasonally adjusted basis."
  • "Excluding autos and gas stations, core retail sales should have edged higher, but sales volumes (adjusted for inflation) are expected to be lower in March."
  • "Our own RBC Consumer Tracker points to stronger spending on essentials in March and weaker discretionary goods sector spending."
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  • Ahead of Friday's retail sales release for March/the April advance, RBC write that their own cardholder tracking is in-line with StatCan's advance estimate of a flat March.
  • "Sales at gas stations likely increased by 1.2% as gas prices were up during the month. But unit auto sales were down 3% on a seasonally adjusted basis."
  • "Excluding autos and gas stations, core retail sales should have edged higher, but sales volumes (adjusted for inflation) are expected to be lower in March."
  • "Our own RBC Consumer Tracker points to stronger spending on essentials in March and weaker discretionary goods sector spending."