- Prior was -0.2%
- Ex autos +1.8% vs +0.7% expected
- Ex autos and gasoline +1.4%
- Motor vehicle and parts dealers -2.2%
- Food and beverage retailers +1.9%, led by grocery stores
- Alberta +3.1%, Ontario -1.0% with Toronto sales -2.5% (Toronto is weakest housing market right now)
- Preliminary May data -0.6% m/m
Yesterday, RBC reported a slump in Canadian discretionary spending in May so the soft May reading adds up. The market increasingly focuses on the advance estimate rather than the main headline.
