10 Aug 2015
Cautious tone ahead of US Retail Sales – Westpac
FXStreet (Edinburgh) - Analysts at Westpac remain cautious when comes to bet on the upcoming Retail Sales in the US economy.
Key Quotes
“Retail sales disappointed in June, falling 0.3%. This result was partly attributable to weaker auto sales; however, core retail sales (ex autos and gas) still fell 0.2% in the month”.
“In annual growth terms, momentum has steadily edged lower in recent months, with the June prints for total and core retail sales growth of 1.4%yr and 2.7%yr well below their respective peak growth rates, of 5.7%yr (Jan-15) and 5.1% (Nov-14)”.
“A continued improvement in the labour market; robust consumer confidence; and firming expectations around incomes all point to stronger discretionary spending”.
“Yet, as has been the case throughout this recovery, caution is likely appropriate. In July we anticipate a moderate rebound from recent weakness, with headline growth of 0.4%”.
Key Quotes
“Retail sales disappointed in June, falling 0.3%. This result was partly attributable to weaker auto sales; however, core retail sales (ex autos and gas) still fell 0.2% in the month”.
“In annual growth terms, momentum has steadily edged lower in recent months, with the June prints for total and core retail sales growth of 1.4%yr and 2.7%yr well below their respective peak growth rates, of 5.7%yr (Jan-15) and 5.1% (Nov-14)”.
“A continued improvement in the labour market; robust consumer confidence; and firming expectations around incomes all point to stronger discretionary spending”.
“Yet, as has been the case throughout this recovery, caution is likely appropriate. In July we anticipate a moderate rebound from recent weakness, with headline growth of 0.4%”.