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Canadian Retail Sales Seen Slowing in June as Consumer Demand Takes Center Stage, UBS Says

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Canadian retail sales are expected to ease in June following a strong May, partly reflecting lower gasoline prices and weaker nominal spending at gas stations, according to UBS Global Research in a note.

The key focus will be sales excluding gasoline, which should offer a clearer view of underlying consumer demand and if household spending is sustaining its momentum, wrote UBS economists in a Monday note made available to the media on Tuesday.

Statistics Canada is slated to release June and preliminary July retail sales data on Friday.

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