Dollar Mixed Ahead Of US Retail Sales

Dollar Mixed Ahead Of US Retail Sales

With auto sales rebounding strongly, the Commerce Department released a report on Monday showing retail sales in the USA increased by more than anticipated in the month of March. Economists had expected retail sales to rise by 0.4 percent.

Auto sales gained two per cent, the biggest increase in six months. Total retail sales in the first quarter of 2018 were up as well, by 4.1 percent compared with the same quarter in 2017.

Excluding the volatile auto sector, sales were up 0.2 per cent, matching an analyst forecast and the same increase recorded in February.

Economists saw a limited impact on retail sales for now from a recent ebb in consumer sentiment, citing a robust labour market, which is steadily pushing up wage growth.

The March results build on improvement seen in February, which was up 0.2 percent over January and 4.3 percent year over year. Gasoline Stations were up 9.7% from March 2017, while Nonstore Retailers were up 9.7% from a year ago.

Read the Census release.

Former Steelers LB James Harrison Announces Retirement
Longtime Pittsburgh Steelers linebacker James Harrison is taking a second crack at retirement. He then finished his career by playing in the Super Bowl with the New England Patriots .

Last month's pick-up in core retail sales did little to change expectations of a sharp slowdown in consumer spending in the first quarter.

"We remain upbeat for the coming months", he added.

Consumer spending, which accounts for more than two-thirds of USA economic activity, grew at a robust 4.0 percent annualised rate in the fourth quarter.

Meanwhile, sales dropped at building material & garden equipment supplies dealers, clothing and accessories stores and sporting goods hobby, books and music. The survey's measure of future business conditions dropped to a more than two-year low.

"This is a healthy spending report despite market volatility, unseasonable weather and uncertain economic policies", NRF Chief Economist Jack Kleinhenz said in a statement.

Related Articles

  • Alleged Canadian serial killer charged with 8th murder

    Alleged Canadian serial killer charged with 8th murder

    The identification of Kanagaratnam was confirmed with assistance from an worldwide government agency, Idsinga said. Hank Idsinga announced Monday at a news briefing that the latest victim's name was Kirushna Kumar Kanagaratnam.
    Beyonce's Coachella set includes Destiny's Child reunion

    Beyonce's Coachella set includes Destiny's Child reunion

    Each university will select its own finalists and victor , with winners set to be announced sometime this summer. Those scholarships were in commemoration of the one-year anniversary of the singer's visual album, "Lemondae".
    Samsung Galaxy Note 9 is codenamed as 'Crown'

    Samsung Galaxy Note 9 is codenamed as 'Crown'

    According to the insider, the new product 100% will get dual camera, Wi-Fi modules and Bluetooth, and 4G with voice support. The smartphone is still in the stage of development, but the leaks have started pouring in about this flagship smartphone.
  • India's WPI inflation for apparel drops 0.9% in March

    India's WPI inflation for apparel drops 0.9% in March

    Manufactured products inflation was at 3.03 per cent even as sugar prices fell 10.48 per cent during the month. Food inflation came negative at 0.29% in March against 0.88% in the previous month.
    Tesla Inc (TSLA) Has Been Underreporting Worker Injuries

    Tesla Inc (TSLA) Has Been Underreporting Worker Injuries

    Following the completion of the sale, the director now directly owns 5,600 shares of the company's stock, valued at $1,424,472. Volume is an important indicator in technical analysis as it is used to measure the relative worth of a market move.
    200-Million Egg Recall in 9 States Prompted by Salmonella Outbreak

    200-Million Egg Recall in 9 States Prompted by Salmonella Outbreak

    Also, healthy individuals infected with Salmonella Braenderup can experience fever, diarrhea, nausea, vomiting and abdominal pain. Consumers who purchased the recalled eggs are urged to stop using the eggs and to return them for a full refund.
  • Guardiola's side among Premier League's greatest teams

    Manchester City , who had bounced back after a week of dismal performances trounced Tottenham Hotspur 3-1 on Saturday. They were on course to go the whole league season unbeaten before losing 4-3 to Liverpool at Anfield in January.
    Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

    Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

    Meanwhile, the Nifty was trading lower by 26.70 points or 0.25% at 10,453.90 with 26 components falling. In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent.
    Shenmue I and II are coming to current gen platforms

    Shenmue I and II are coming to current gen platforms

    Sega confirmed the news at Sega Fest 2018, saying these action-adventure classics will be making their way to PS4 in Japan. The third installment in the series ran a successful Kickstarter campaign and is expected to be out later this year.
  • Gas prices go back up in Baton Rouge after one week reprieve

    Gas prices go back up in Baton Rouge after one week reprieve

    Tennessee gas prices are the most expensive since last September, when prices were recovering from Hurricane Irma. Meanwhile, demand for gasoline in the United States is essentially flat from past year .
    Shire offloads oncology unit to Servier for $2.4bn

    Shire offloads oncology unit to Servier for $2.4bn

    Ornskov said the board will consider returning the proceeds of the sale back to shareholders through a buyback programme. The oncology unit was an area that Takeda had identified as a driver for its potential takeover approach.
    Nintendo Switch Getting Classic Sega Games This Summer

    Nintendo Switch Getting Classic Sega Games This Summer

    The new Switch Sega Ages games will be the work of retro masters M2 (who also handled the original Sega Saturn releases). The first SEGA AGES batch will come out this summer.