US: Retail sales to grow 1.7 percent in September – Wells Fargo

Analysts at Wells Fargo expect US retail sales to grow 1.7 percent in September following a 0.2 percent contraction August, month over month.

Key Quotes

“August’s contraction can largely be traced to Hurricane Harvey’s impact, with most store categories showing steep declines. Auto sales experienced the sharpest drop with sales of motor vehicles and parts declining 1.6 percent. The decline in auto sales eclipsed the boost from the 2.5 percent rise at gas stations.”

“For September, we expect building supply stores to have much stronger sales as Houston and the entire state of Florida rebuild and recover from major back-to-back storms. The data in September’s release are likely to contain Harvey-related noise, which will make gauging the actual strength of the consumer more difficult.”

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.