Canadian retail sales to have rebounded by 0.8% m/m in October

Canadian retail sales are forecast to have rebounded by 0.8% m/m in October. An increase in the price at the pump should support sales at gasoline stations and home furnishings are forecast to increase in tandem with a stronger month for existing home sales. Sales of food and beverages could also receive a temporary boost from the Toronto Blue Jays' foray into the playoffs. Industry data for autos was mixed in the month which should correspond to a monthly increase of 0.6% for the ex-autos metric. 

Given higher retail prices in the month, retail volumes are expected to have increased by a smaller amount but will nevertheless provide support for industry-level real GDP (which incidentally will be released simultaneously by Statistics Canada ahead of the holidays).