- The advanced April report was +0.5%
- The March reading was +0.8%
- Ex-autos -0.3% vs +0.2% expected
- Prior ex-autos -0.7% (revised to -0.8%)
- Advance May report-1.1%
USD/CAD was trading at 1.3713 ahead of the data. The key number here is the advance May reading, which suggests a sharp drop in consumer spending. That report doesn't break down the sources of weaker spending so it could just be autos on the tariff front-run but it raises the stakes for the next report.
More details:
- Year-on-year headline up +5.0 %
- Motor-vehicle & parts dealers +1.9 %m/m (new-car dealers +2.9%, used-car +2.1%
- Gasoline-station sales -2.7% m/m
- Sporting goods / hobby / misc. +1.0 %
- Furniture / electronics / appliances +0.8 %
- Food & beverage +0.2 %
- Clothing & accessories -2.2 % (worst subsector)
