FXstreet.com (Barcelona) - US retail sales rose to a 0.9% MoM in August, a bit higher than expected (0.8%), according to ING.
The detail shows gasoline station sales rose 5.2% and motor vehicle and parts sales rose 1.3%, so, excluding these, the core figure grew only 0.1%. Meantime, core inflation rose a 0.1%, but prices increased 0.6% on energy.
"Consequently today’s reports highlight the loss of momentum in the US economy add further justification for the Fed’s QE3 programme", says James Knightley, analyst at ING.
The detail shows gasoline station sales rose 5.2% and motor vehicle and parts sales rose 1.3%, so, excluding these, the core figure grew only 0.1%. Meantime, core inflation rose a 0.1%, but prices increased 0.6% on energy.
"Consequently today’s reports highlight the loss of momentum in the US economy add further justification for the Fed’s QE3 programme", says James Knightley, analyst at ING.
