11 Feb 2015
US headline retails sales likely to be depressed – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team previews tomorrows US data release, expecting the headline retails sales to likely to be depressed due to the fall in gasoline prices.
Key Quotes
“In the US, the focus is on tomorrow’s retail sales. The headline will likely be depressed by the fall in gasoline prices, and we already know there was a slight slowing in auto sales, but the core measure should reverse the 0.4% decline in December.”
“At the same time, the recent trade and inventory data is spurring economists to cut Q4 GDP estimates toward 2% or just below.”
“However, the strength of the labor market and the recovery in hourly earnings has seen ideas of a mid-year rate hike strengthen, and this has been encouraged by several Fed officials that have spoken this week.”
Key Quotes
“In the US, the focus is on tomorrow’s retail sales. The headline will likely be depressed by the fall in gasoline prices, and we already know there was a slight slowing in auto sales, but the core measure should reverse the 0.4% decline in December.”
“At the same time, the recent trade and inventory data is spurring economists to cut Q4 GDP estimates toward 2% or just below.”
“However, the strength of the labor market and the recovery in hourly earnings has seen ideas of a mid-year rate hike strengthen, and this has been encouraged by several Fed officials that have spoken this week.”