Market updates on July 16
Welcome to Tuesday!
April retail sales surge speeds down to 0.3% in the US
In April, retail sales in the United States slumped by 0.3% versus the previous month. That’s what the data of the Ministry of Trade uncovered on Monday.
The consensus forecast of analysts polled by Bloomberg also dropped a hint at a leap of 0.3%.
Thus, the soar in April speeded down greatly from the updated outcome of 0.8% in March.
April retail sales excluding vehicles, gasoline and construction materials (the so-called "control group" - the major indicator employed to calculate US GDP) tacked on by 0.4%, as expected. According to the updated data, in March, they inched up by 0.5%, but not by 0.4%, as previously reported.
Overall, sales in 9 of the 13 key categories of retail goods demonstrated surge in April.
The most considerable jump was recorded for clothing sales (1.4%), which appeared to be the highest outcome since March 2017.
Sales of vehicles headed north by only 0.1% after a leap of 2.1% in March. Besides this, sales of furniture inched up by 0.8%.
Gasoline release at gas stations tacked on by 0.8%, which is the most significant ascend since January. Gasoline prices in the United States are close to the maximum since 2014, which probably backed the retail sales figure in April.
Moreover, in April, retail sales without vehicles soared by 0.3% - it turned out to be weaker than the March value of 0.4% as well as market expectations for 0.5%.
The figure, from which vehicles and gasoline are excluded, headed north by 0.3%. As for the consensus forecast for this, it accounted for 0.4%.
In May, the index of manufacturing activity of New York Empire Manufacturing headed north to 20.1 points versus 15.8 points in April. At the same time, analysts on average anticipated a slump in the index to 15 points.
Similar
5 important events this week will bring us!
Find out what is going to move the markets this week
Market updates on July 12
Friday is on!
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold ascends on Brexit jitters
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…
Deposit with your local payment systems
