The Barclays Research Team is out with a brief preview of today’s US retail sales data due on the cards at 1230 GMT.
“We forecast retail sales to have increased 0.3% m/m in February.
Manufacturers' reports released earlier this month showed a modest slowing in vehicle sales, and we expect a similar trend to be reflected in the retail sales report. Gasoline prices have come off since January and suggest a decline in gas station sales.
For sales excluding motor vehicles, we forecast a 0.4% increase. Excluding volatile items such as autos, gasoline stations, food services and building materials, we expect retail sales to be up 0.3% m⁄m.”
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