TD Securities projects a 1.1% month-on-month gain in Canadian retail sales for May, exceeding the 1.0% consensus forecast.
Canadian retail sales are expected to increase 1.1% month-on-month in May, surpassing the 1.0% consensus estimate. The rise is attributed to higher gasoline prices and a rebound in core retail activity.
The forecast follows a period of mixed economic signals, with prior months showing weaker consumer spending. Analysts had anticipated a modest recovery, but the projected gain suggests stronger-than-expected demand.
The data, if confirmed, could support the Canadian dollar and influence Bank of Canada policy expectations.