8 Jun 2015
US core retail sales expected to rise by 0.5% in May – Nomura
FXStreet (Barcelona) - Economists at Nomura forecast the US core retail sales to see a 0.5% increase in May and the ex autos number to climb by 0.9%.
Key Quotes
“Retail sales disappointed in April, remaining unchanged from March. We have yet to see the money saved at the pump provide any strong boost to spending in other categories, in particular, discretionary spending categories.”
“We expect to see a solid increase in sales in May, representing some bounce back from the low level of sales in April. With the personal saving rate elevated, the consumer spending outlook for the medium term remains positive. We expect core retail sales to increase by 0.5% in May, after they were unchanged in April. Retail gasoline prices were up on a seasonally adjusted basis and should put some upward pressure on total sales.”
“In addition, vehicle sales surged to their highest level in almost a decade for May and will boost the headline sales number, and could also be a sign that consumers were more willing to spend on other items in May. Thus, we forecast a 1.3% increase in headline sales and we expect retail sales excluding autos to increase by 0.9%.”
Key Quotes
“Retail sales disappointed in April, remaining unchanged from March. We have yet to see the money saved at the pump provide any strong boost to spending in other categories, in particular, discretionary spending categories.”
“We expect to see a solid increase in sales in May, representing some bounce back from the low level of sales in April. With the personal saving rate elevated, the consumer spending outlook for the medium term remains positive. We expect core retail sales to increase by 0.5% in May, after they were unchanged in April. Retail gasoline prices were up on a seasonally adjusted basis and should put some upward pressure on total sales.”
“In addition, vehicle sales surged to their highest level in almost a decade for May and will boost the headline sales number, and could also be a sign that consumers were more willing to spend on other items in May. Thus, we forecast a 1.3% increase in headline sales and we expect retail sales excluding autos to increase by 0.9%.”