US: Retail Sales likely rebound in May - Wells Fargo
|On Friday, in the US, retail sales and industrial production data will be released. Analysts at Wells Fargo expect a 0.7% increase in retail sales headline.
Key Quotes:
“Retail sales have experienced a volatile monthly performance so far this year. In April, headline sales unexpectedly slipped 0.2% on the month, following an exceptionally strong 1.7% gain in March.”
“We expect a rebounding performance in May, with headline retail sales increasing 0.7% (excluding vehicles, +0.4%). Motor vehicle sales increased 5.5% last month and should accompany an otherwise broad-based increase across the retail sectors."
“We remain constructive on the consumer and their contribution to overall economic growth. Fundamentals for sustained, solid consumer spending remain sound, including healthy hiring gains, low unemployment and firming wages. Assuming the labor market remains healthy, as we expect, consumer spending growth should be solid in the quarters ahead.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.