Retail Sales 15/6/2022

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 rose 0.9% month-on-month in April of 2022, after an upwardly revised 1.4% increase in March and matching market expectations. The reading showed that US consumers continued to spend despite rising levels of inflation even though it was the smallest gain in retail trade in four months. The largest increases in sales were seen at diversified retail stores (4%); auto and parts dealers (2.2%); non-store retailers (2.1%); food services and drinking places (2%); and electronics and hardware stores (1%). In contrast, retail sales fell 2.7% at gas stations, and 0.5% in sporting goods, hobbies, musical instruments, and book stores. and 0.2% in food and beverage stores. Year-over-year, retail sales increased 8.2%.

Estimate for today's statement is 0.1%.

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