U.S. Retail Sales Unexpectedly Fall; Prior Reading Revised Up
Monday, 1 April 2019 20:03 WIB | ECONOMY |Retail Sales

U.S. retail sales unexpectedly eased in February on declines in grocery stores and building materials, which could potentially reflect cooler weather, though also may signal further headwinds for the economy in the first quarter.

The value of overall sales fell 0.2 percent after an upwardly revised 0.7 percent increase the prior month, according to Commerce Department figures released Monday. The median forecast of economists surveyed by Bloomberg called for a 0.2 percent gain.

Sales in the "control group" subset, which some analysts view as a cleaner gauge of underlying consumer demand, also fell 0.2 percent, missing estimates for a gain, after an upwardly revised 1.7 percent increase in the prior month. The measure excludes food services, car dealers, building-materials stores and gasoline stations.

The report suggests consumer spending will be limited as a growth driver in the first quarter, with pressure points also including smaller-than-expected tax refunds and global economic weakness that may be weighing on jobs. At the same time, rising wages, a stock-market rally and steady interest rates are likely to be pillars for consumption in coming months.

Seven of 13 major retail categories showed declines, led by a 4.4 percent drop in building materials and garden supply stores that was the steepest since April 2012. Food and beverage stores posted a 1.2 percent drop, the most in a decade.

Other recent indicators have offered a mixed picture of the U.S. economy. Data on February durable-goods orders, due Tuesday, and Friday™s employment report for March will give a better sense of whether the weakness will be temporary.

Filling-station receipts increased 1 percent in February, the most since October, the report showed. The figures aren™t adjusted for price changes, so rising retail sales in the category could reflect higher fuel costs, sales, or both. Oilprices have steadily increased this year, and gasoline prices have followed.

Sales at automobile dealers climbed 0.7 percent after an upwardly revised 1.9 percent drop in the previous month. Industry data from Wards Automotive Group previously showed unit sales fell to the lowest level since 2017.

Excluding automobiles and gasoline, retail sales slumped 0.4 percent, after a 1.4 percent advance the previous month.

Source : Bloomberg

RELATED NEWS

U.S. Core Inflation Modest in November Ahead of Fed Meeting
Wednesday, 11 December 2019 21:15 WIB

A key measure of U.S. consumer prices remained subdued in November, bolstering widespread expectations Federal Reserve policy makers will hold the line on interest rates. The core consumer price index, which excludes volatile food and energy costs, rose 0.2% for a second month, and 2.3% f...

ZEW Investor Sentiment Poll Reaches 21-Month High in December
Tuesday, 10 December 2019 17:37 WIB

The ZEW indicator of economic sentiment in Germany turned positive in December, rising to the highest level in 21 months. The ZEW registered a reading of 10.7 points, up from -2.1 in November. "This hope results from a higher than expected German foreign trade surplus in October, alongside relative...

U.K. GDP Flat In Three Months to October
Tuesday, 10 December 2019 16:55 WIB

U.K. GDP was flat in the three months ending October, the Office for National Statistics said Tuesday. There were increases across the services sector, offset by falls in manufacturing with factories continuing the weak performance seen since April, the statistics agency said. The ONS also reporte...

U.S. Jobs Trounce Forecasts With 266,000 Gain; Wages Heat Up
Friday, 6 December 2019 20:54 WIB

U.S. job gains roared back in November as unemployment matched a fresh half-century low and wages topped estimates, giving the Federal Reserve more reason to hold interest rates steady after three straight cuts. Stock futures and the dollar jumped while Treasuries slid. Payrolls jumped 266,000...

Aussie Data Dump: Retail Sales, ( 0% vs 0.3% exp ) Trade Balance, ( 450M vs 6100M exp )
Thursday, 5 December 2019 08:11 WIB

AUD's marathon of data for the week has continued today with the release of the October Retail Sales and Trade Balance. Note: Retail Sales was the main focus in these releases. The data arrived as follows : Imports (Oct)   0% vs prior 3%. Exports (Oct)   -5% vs prior 3%. Tra...

ANOTHER NEWS
Tokyo Stocks Open Higher as US Fed Keeps Rates Unchanged
Thursday, 12 December 2019 07:30 WIB Tokyo stocks opened higher on Thursday after the US Federal Reserve kept interest rates unchanged as expected, with expectations that the low rate be maintained for a while. The benchmark Nikkei 225 index was up 0.24 percent or 55.67 points at...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.