Retail Sales 7/15/2022

The retail sales statement determines the value of sales at the retail level, and is one of the first indicators published in the month about consumer behavior, and therefore the market is sensitive to any surprises from this report.

US retail sales unexpectedly fell 0.3% per month in May of 2022, the first decline so far this year compared to market expectations for a 0.2% rise. It follows a downwardly revised 0.7% increase in April, as high inflation, gasoline prices and borrowing costs hurt spending on non-essential goods. Car sales recorded the largest decline (-4%) and sales in electronics and hardware stores fell (-1.3%); miscellaneous department store retailers (-1.1%); Non-store retailers (-1%); furniture stores (-0.9%); and health and personal care stores (-0.2%). On the other hand, retail sales at petrol stations rose (4%) amid rising gas prices. food and beverage stores (1.2%); food services and drinking places (0.7%); sporting goods, hobbies, musical instruments, and libraries (0.4%); and general merchandise stores (0.1%). Excluding autos, retail sales rose 0.5% and excluding gas and cars 0.1%.

The estimate for today's statement is 0.9%.

In the event that the statement is issued at a rate higher than expectations, it will affect the currency positively and vice versa

The statement will be issued at 3:30 pm Mecca time