Canada: Retail sales likely to surprise slightly to the downside - TDS

Analysts at TD Securities suggest that Canada’s June retail sales will give the last look at growth conditions ahead of Q2 GDP.

Key Quotes         

“TD looks for sales to surprise slightly to the downside at -0.5% m/m on weaker motor vehicles, leaving the ex-autos measure down 0.2% (market: -0.2%, -0.1%, respectively). This would leave real retail sales down ~0.7% on the month but up 2.9% q/q (saar) for Q2 as a whole.”