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 rose 0.4% on the month in April of 2023, rebounding from two consecutive months of declines, but well below market expectations of a 0.8% increase. Sales at automobile and spare parts dealers rose 0.4%. Further increases were seen in sales at building materials and garden supply dealers (0.5%); food services and drinking places (0.6%); health and personal care stores (0.9%); merchandise stores (0.9%); non-store retailers (1.2%); and miscellaneous retail stores (2.4%). On the other hand, sales at petrol stations unexpectedly fell by 0.8%, despite higher gasoline prices and sales at food and beverage stores fell by 0.2%. Other declines were also recorded for apparel (-0.3%); electronics (-0.5%); furniture (-0.7%); and sporting goods and hobbies, music and books (-3.3%). However, so-called core retail sales which exclude automobiles, gasoline, building materials and food services rose 0.7%, in a sign of continued consumer demand.

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

The estimate for today's statement is -0.2%.
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 0.4 percent month-on-month in April 2023, after declining by an upwardly revised 0.5 percent in March, in line with market expectations. It's the first increase after two consecutive months of drops

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