Canada retail sales preview
Canada retail sales preview: retail sales, due Friday, are expected to rebound 1.0% in May after the 1.3% drop in April. The ex-autos sales aggregate is projected to rise 0.5% in May after the 0.1% dip in April. The culprit behind the total sales decline in April was motor vehicle and parts dealers, which saw a 4.3% drop in April. Statistics Canada blamed poor weather as a suspect in the sales tumble during April, noting that Ontario, which was the source of most of the decline in motor and parts dealers, saw cooler than usual conditions in April, with freezing rain featuring in the middle of the month. Analysts expect a rebound in May. CPI's gasoline price index grew 3.3% in May after the 6.8% drop in April. Hence, gasoline station sales should provide a boost to total and ex-autos sales retail sales. View the preview.