US: Retail sales likely to surge 0.5% in May - Nomura
|Analysts at Nomura expect a 0.5% m-o-m increase in US control retail sales in May, consistent with firming momentum in Q2 personal spending.
Key Quotes
“Yet, some of the increase was likely driven by a pickup in gasoline sales at superstores and warehouse clubs, which may have been boosted by rising retail gasoline prices. As the Census Bureau does not separate gasoline sales at these stores, rising oil prices will likely affect control retail sales to some degree.”
“Receipts at gasoline stations, separate from other large-scale retail stores, will likely pick up for the same reason. In addition, light vehicle sales slowed in May, suggesting retail sales at auto and auto part dealerships will likely fall. Finally, we expect a rebound in sales at building material stores after weather-driven softness over the past two months.”
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.