Canada April retail sales +1.1% vs +0.2% expected

• Prior was -1.4%
• April advanced estimate was -0.2%
• Ex autos +1.3% versus +0.4% expected
• Prior ex autos came in at -0.3%
• May advanced retail sales +0.5%
• Sales up 1.4% y/y, inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term adjusted but down 0.4% excluding autos

This is a strong report and the advanced May number shows that the Canadian consumer is holding up better than feared.

Core sales have risen for five consecutive months and overall sales rose in 8 of 9 subsectors led by 'general merchandise up 3.3% and food and beverage up 1.5%. However one small warning sign was the 1.6% drop in furniture, home furnishings, electronics and appliance retailers. Those are classic forward-looking categories of consumer health.

USD/CAD is largely unchanged on the data.