Tag Archives: US retail spending

After a weak first quarter, consumer spending in the US is showing healthier signs. We remain upbeat about prospects for the rest of this year too.Core retail sales in the US rose by 0.2% m-o-m in April, below consensus expectations (+0.4%). However, retail sales for March were revised up by 0.2%.The result was that between Q1 and April, nominal core retail sales grew by a healthy 3.6% annualised, following an increase of 3.5% q-o-q in Q1 and 3.1% in Q4 2016. However, although up month on...

Macroview Our forecasts for US GDP growth remain unchanged, and we continue to expect a 25bp rate hike in December, followed by two others in 2017. Core retail sales in the U.S. rose by ‘only’ 0.1% month on month ( m-o-m) in September, below consensus expectations. Moreover, the July number was revised down. The result was that core retail sales were almost flat (+0.3% quarter on quarter (q-o-q) annualised in Q3), much lower than the 6.9% rise seen in Q2. Nevertheless, we continue to believe...

Macroview In spite of poor August retail report, we remain reasonably sanguine on US consumer spending growth over the near term. Today’s US retail sales report for August was surprisingly downbeat, with core retail sales recording their second monthly decline in a row. Core retail sales in the US fell by 0.1% month over month (m-o-m) in August, worse than consensus expectations. Moreover, June and July numbers were revised down by a cumulative 0.2%. The result was that between Q2 and...