Retail Sales (MoM) (US)
The Contraction in Retail Sales Expected to Get Bigger in April
Starts Friday, May 15, 2020 at 12:30
Updated Friday, May 15, 2020
We have seen some volatile numbers for retail sales. In December last year the report released a month late due to the government shutdown. Retail sales declined by a massive 1.2% while core sales came even lower at -1.8%. But they turned positive again in January growing by 0.2%, while core sales grew by 0.9% that month. In February they were expected to remain positive, but turned negative, both headline and core sales. For March, we saw a decent 1.6% jump in sales, but they returned to negative in April, declining by 0.2%. Although, last month the numbers for April were revised higher to 0.3% for core sales from -0.2% in the prelim reading which headline sales were revised to 0.5% from 0.1%. In June, both numbers showed a 0.5% increase for May, while the report released in July showed a 0.4% increase. For August, sales posted a decent increase of 0.4% while core sales fell flat at 0.0%, but they both declined in September. In October, they turned positive and in November sales were expected to increase further, by 0.4% for core sales and 0.5% for headline sales but missed expectations, with retail sales increasing by 0.2% and core sales by 0.1%. But we saw a decent jump of 0.7% in December for core sales. So, sales have been positive since then, but turned negative in February, while in March they posted a larger decline of 8.7%, which is expected to get bigger at -11% in April. Please follow us for live coverage in real time of the event by experienced analysts.
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About Retail Sales (MoM) (US)
Released by the U.S. Census Bureau, Retail Sales (MoM) is an aggregate measure of activity in the retail sector. It is calculated as a percentage change and made available to the public on a monthly basis.The Retail Sales report is widely viewed as a barometer of consumer confidence and spending. Higher than expected levels are interpreted as being positive for the U.S. economy and USD. A lagging or negative release is bearish toward the USD.