11 Jan 2016
US Dec retail sales to post an incremental gain – Westpac
FXStreet (Delhi) – Research Team at Westpac, notes that the US retail sales have exhibited an underwhelming trend through 2015, with total retail sales up just 1.4% over the year to Nov.
Key Quotes
“By and large, the primary cause of this persistent weakness has been the sharp decline in the price of oil, which continues to weigh heavily on nominal gasoline sales.
That being said, annual growth in core sales also remains modest, 3.6%yr in Nov, amid volatile monthly outcomes.
Come Dec, we expect total retail sales to again be little changed, with an incremental gain of 0.1%. Weakness in auto sales adds downside risk. Core retail sales should show stronger momentum, with a 0.4% gain.”
Key Quotes
“By and large, the primary cause of this persistent weakness has been the sharp decline in the price of oil, which continues to weigh heavily on nominal gasoline sales.
That being said, annual growth in core sales also remains modest, 3.6%yr in Nov, amid volatile monthly outcomes.
Come Dec, we expect total retail sales to again be little changed, with an incremental gain of 0.1%. Weakness in auto sales adds downside risk. Core retail sales should show stronger momentum, with a 0.4% gain.”