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 rose 0.3% month-on-month in May 2023, after increasing 0.4% in April, beating expectations for a 0.1% decline. The data indicated that consumer spending remains resilient, despite rising inflation and interest rates. The largest increases were seen in sales of building materials and garden equipment (2.2%) and automobiles and spare parts (1.4%). Purchases were also higher in food services and drinking establishments (0.4%); general merchandise stores (0.4%); furniture stores (0.4%); food and beverage stores (0.3%); sporting goods, hobbies, musical instruments, and bookstores (0.3%); and electronics and appliances (0.2%). On the other hand, sales were flat at health and personal care and clothing stores and decreased by 2.6% at petrol stations and 1% at miscellaneous retail stores. So-called core retail sales, which exclude motor vehicles, gasoline, building materials and food services, rose 0.2% after rising 0.6% in April.

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

The estimate for today's statement is 0.5%.
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 0.1 percent month-on-month in May 2023, after a 0.4 percent increase in April, matching market expectations.

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