US retails sales review and GDP update - Nomura

Analysts at Nomura explained that Core (“control”) retail sales increased a healthy 0.4% m-o-m, below their expectations but in line with the market consensus (Nomura: 0.5%, Consensus: 0.4%). 

Key Quotes:

"However, January and February core retail sales were revised downwards, implying weaker-than-expected momentum in Q1 personal spending. The solid increase in March core sales was likely boosted by the delayed arrival of tax refunds relative to historical trends, which may have shifted spending from January and February to March."

GDP tracking update: 

"Although March core retail sales were broadly in line with our expectations, downward revisions to January and February core sales imply modestly weaker momentum in personal consumption expenditure in Q1 relative to our tracking model. Therefore, we lowered our Q1 GDP tracking estimate by 0.1pp to 1.6% q-o-q saar after rounding."

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.