Analysts at Westpac explain that US retail sales growth accelerated in late 2017 and was partly due to hurricane damage in Texas and surrounding states (which created a need to replace cars and other durable goods).
“Energy prices were also supportive of nominal spending over the period.”
“That said, underlying demand is also robust and broad based. Indeed, the December report included an upward revision to core sales in November.”
“Another solid headline gain is anticipated in January, 0.4%. This is despite autos acting as a drag and limited support from energy prices. Core sales are likely to have risen by 0.5% 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.