National Bank of Canada’s analyst Jocelyn Paquet, point out that Canadian retail sales hit a record high in May and recovered after April’ slide and see numbers consistent with a positive contribution to GDP growth during Q2. Key Quotes: “As was expected following a weather-related slump in April, Canadian retail sales rebounded strongly in May, led by a robust showing in the country’s two largest provinces. The monthly advance, which easily surpassed forecasts, even allowed retail sales to reach a new all-time high of C$50.8 billion.” “Another sign of the strength of Canadian consumers in May, discretionary sales, which excludes gasoline, groceries and health products, spiked no less than 3.0%, more than erasing April’s weak result (-2.4%).” “Retail sales are now on pace to expand 3.8% annualized in Q2 following a negative print in Q1. Such a performance is consistent with an acceleration of consumption spending and hence GDP growth in the second quarter of 2018.” “Canadian retail sales easily topped consensus expectations in May, surging 2.0% m/m in nominal term, the most since October 2017.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NY Fed: Nowcast GDP growth expectation eases to 2.7% for Q2 FX Street 5 years National Bank of Canada's analyst Jocelyn Paquet, point out that Canadian retail sales hit a record high in May and recovered after April' slide and see numbers consistent with a positive contribution to GDP growth during Q2. Key Quotes: "As was expected following a weather-related slump in April, Canadian retail sales rebounded strongly in May, led by a robust showing in the country's two largest provinces. The monthly advance, which easily surpassed forecasts, even allowed retail sales to reach a new all-time high of C$50.8 billion." "Another sign of the strength of Canadian consumers in May, discretionary sales, which… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
