US retail sales growth has been sporadic in 2017, leaving the annual rate of gain for headline sales at a subdued 4.2%, points out the research team at Westpac.
“The July outcome was certainly better, a 0.6% gain being recorded thanks to broad-based momentum.”
“Since the July retail sales release, Q2 GDP has been revised up, principally because of stronger consumption. This sets the stage for a continuation of current momentum into Q3. • We expect a 0.3% gain in the month, with core sales; autos; and gasoline all contributing. That would not be a strong result by any means, but would indicate that the consumer remained willing to spend.”
“The market is more downbeat, anticipating a 0.1% rise. There is a chance that the figures will be affected by Hurricane Harvey, but the storm came very late in the month.”
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 securities. 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 Forex 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.