Retail Sales

Retail sales

Retail Sales Statement It determines the value of sales at the retail level, and is one of the first indicators published in the month about consumer behavior, so the market is sensitive to any surprises from this report.
US retail sales unexpectedly jumped 3% month over month in January of 2023, the largest increase since March of 2021 and exceeding market expectations for a 1.8% rise. This follows a 1.1% drop in December. The biggest gains were seen in sales at department stores (17.5%), food and beverage services (7.2%), auto and parts stores (5.9%), furniture stores (4.4%), electronics and appliances (3.5%), and department stores. (2.8%) and clothing (2.5%). On the other hand, sales at petrol stations were flat. Excluding cars, sales increased by 2.3% and excluding gas and cars, by 2.6%. So-called core retail sales which exclude automobiles, gasoline, building materials and food services and more closely related to the consumer spending component of GDP rose 1.7%. The data showed that consumer spending remains strong after a slowdown last year, amid a strong labor market, wage growth and signs of easing inflationary pressures. Retail sales are not adjusted for inflation

Outlook for today's statement and how it will affect the currency

The estimate for today's statement is -0.3%.
In the event that the statement is issued at a rate higher than expectations, it affects the currency positively, and vice versa

Core Retail Sales

The core retail sales index is derived from retail sales, in which the vehicle sales component is omitted. Retail sales excluding this rapidly changing component are thought to be the best indicator of the underlying trend of consumption. Car sales constitute approximately 25% of retail sales, but they may change rapidly from one month to another, which may distort the image of the general index.
Retail sales excluding automobiles in the United States rose 2.3% month-on-month in January 2023, the most since March 2021 and above market expectations for a 0.8% increase.

Outlook for today's statement and how it will affect the currency

The estimate for today's statement is -0.1%.
In the event that the statement is issued at a rate higher than expectations, it affects the currency positively, and vice versa

The timing of the statement

Retail sales data will be released at 3:30 pm Mecca time