US: Recovering retail sales underline positive consumer story - ING

James Knightley, Chief International Economist at ING, notes that the March reading for US retail sales has come in slightly better than expected, rebounding 0.6%MoM versus the consensus 0.4% forecast.

Key Quotes

“Sales in February (-0.1%) were held back by delays to the distribution of tax refunds. However, they have since been disbursed and clearly supported spending in today’s report, especially for big-ticket items such as autos (+2%Mom) and furniture (+0.7%).”

“Excluding some of the more volatile items, the “control” group, which better matches consumer spending within GDP, rose 0.4%MoM. This was in line with expectations.”

“Overall, consumer spending has been disappointing in 1Q18, which is partially weather-related, but today’s report suggests the slowdown was transitory. We remain upbeat for the coming 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 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.