According to analysts at TD Securities, strong March auto sales, accelerating gasoline prices and a firm rebound in the (core) control group should underpin a solid 1.3% m/m jump in the US retail sales, following a 0.2% decline in February.
“We expect the 0.7% m/m improvement in sales in the key control group to be supported by a normalization in tax refunds, rising real disposable income and a still humming labor market.”
“Conversely, the Philly Fed index is expected to post a modest 2.7 point decline to 11.0 in April. Recall that the index registered a significant improvement in March, posting an eye-popping 17.8 jump in the index to a five-month high of 13.7 in March.”
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