American retail sales surge

American retail sales surge

In July, American retail sales jumped more than anticipated because households spurred purchases of cars and clothing, hinting that the American economy was still firm early in the third quarter.

As for other Wednesday’s data, it revealed that manufacturing output added steadily in July, while in the second quarter, worker productivity ascended at its fastest tempo for more than three years, although a sink in labor costs hinted at mild wage inflation.

Firm domestic demand backs hopes that the key US bank is going to have interest rates lifted in September, and it’s going to be the third rate hike in 2018. The bank intends to lift rates notwithstanding volatility in emerging markets, which was driven by an economic as well as political downtime in Turkey.

As the Commerce Department informed, retail sales leapt by 0.5% in July. However, June’s data was updated downwards to show sales adding 0.2% instead of the previously posted 0.5% soar. Market experts surveye4d by Reuters had foreseen retail sales adding 0.1% in July. In July, retail sales managed to gain 6.4% from 2017.

Without gasoline, cars, food services, building materials retail sales tacked on by 0.5% the previous month following a downwardly updated 0.1% sink in June. By the way, these so-called core retail sales are crucial for the consumer spending component of the US GDP.

Earlier core retail sales were posted to have been intact in June. Eventually, consumer spending is being underpinned by a tightening labor market, steadily backing salaries. As for tax cuts as well as higher savings, they also backed consumption.

July's ascend in core retail sales hinted that the American started the third quarter on a firm footing having reported its best performance for almost four years in the second quarter.

In June, the US major bank had borrowing costs raised. Moreover, the bank predicted two extra rate hikes by December.


Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

Latest news

The US Dollar Is Correcting
The US Dollar Is Correcting

Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?

Bearish Signal For The USD
Bearish Signal For The USD

XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera