Canada: Retail sales likely to decline in November - TDS

According to analysts at TD Securities, Canadian retail sales are projected to decline in November (TD, market: -0.6%) on a combination of weaker auto sales and a sharp pullback in gasoline prices that could shave nearly 0.5pp off the headline print.

Key Quotes

“We look for ex-auto sales to post a 0.4% decline, in line market estimates, while real retail sales should see a more modest pullback.”