Canada Retail Sales Preview
Canada Retail Sales Preview: Analysts expect retail sales to rise 0.5% in October after the 0.6% gain in September. The ex-autos sales aggregate is seen expanding 1.0% in October after the flat reading in September. Gasoline prices surged 3.7% in October after the 0.8% edge higher in September, according to the CPI . Hence analysts should see the gasoline station sales component exert a big boost on total and ex-autos sales. Vehicle sales were weaker in October relative to September. The real driver here should be the boost to total sales from gasoline station sales. That will be a price related impact, so sales volumes could be rather tepid. An as expected gain in October that that is accompanied by even a small improvement in the "real" (price adjusted) sales basis would be supportive of our view that GDP will see further growth in October of 0.1%.