FOREX TradingCharts.com

Financial News: U.S. Retail Sales Rise 0.3% In January, But

U.S. Retail Sales Rise 0.3% In January, But Core Sales Unchanged

02/14/2020 - 09:47:00 (RTTNews)

(RTTNews) - Retail sales in the U.S. increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Friday.

The Commerce Department said retail sales rose by 0.3 percent in January after edging up by a downwardly revised 0.2 percent in December.

Economists had expected retail sales to climb by 0.3 percent, matching the increase originally reported for the previous month.

Excluding a modest rebound in sales by motor vehicles and parts dealers, retail sales still rose by 0.3 percent in January after climbing by 0.6 percent in December. Ex-auto sales were also expected to increase by 0.3 percent.

Sales by miscellaneous store retailers and building materials, equipment and supplies dealers saw significant growth, while sales by clothing and accessories stores pulled back sharply.

The report said closely watched core retail sales, which exclude autos, gasoline, building materials and food services, were unchanged in January after rising by a downwardly revised 0.2 percent.

Core retail sales were expected to rise by 0.3 percent compared to the 0.5 percent increase originally reported for the previous month.

"After a rare contraction in the fourth quarter, the 3m/3m annualized growth rate of control group sales slipped further to -0.7% in January," said Andrew Hunter, Senior U.S. Economist at Capital Economics,

He added, "That means there are now clear downside risks to our initial forecast that real consumption growth will rebound back above 2% annualized in the first quarter."

However, Hunter said he wouldn't be surprised to see much stronger retail sales figures in February and March and noted strong fundamentals suggest that a sustained downturn in consumption remains unlikely.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Fed Minutes Signal Interest Rates To Remain Unchanged For Some Time (01 hr(s), 06 min(s), 34 sec(s) ago)
(RTTNews) - Leaving interest rates at their current levels is likely to remain appropriate for som ...Full Story»

IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery (02 hr(s), 38 min(s), 34 sec(s) ago)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story»

Belgium Consumer Confidence Improves For Second Month (04 hr(s), 16 min(s), 34 sec(s) ago)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story»

Turkish Central Bank Cuts Rates Again (04 hr(s), 28 min(s), 34 sec(s) ago)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story»

U.S. Housing Starts Pull Back After Reaching 13-Year High (05 hr(s), 58 min(s), 34 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

Eurozone Current Account Surplus Grows (06 hr(s), 05 min(s), 34 sec(s) ago)
(RTTNews) - Euro area current account surolus grew in December after dropping in the previous mont ...Full Story»

U.S. Producer Prices Climb 0.5% In January, Much More Than Expected (06 hr(s), 14 min(s), 34 sec(s) ago)
(RTTNews) - Producer prices in the U.S. increased by much more than anticipated in the month of Ja ...Full Story»

U.S. Housing Starts Pull Back Less Than Expected In January (06 hr(s), 50 min(s), 34 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Fed Minutes Signal Interest Rates To Remain Unchanged For Some Time

02/19/2020 - 14:31 PM (RTTNews)
(RTTNews) - Leaving interest rates at their current levels is likely to remain appropriate for som ...Full Story>>

IMF Says Coronavirus Poses New Threat To Fragile Global Economic Recovery

02/19/2020 - 12:59 PM (RTTNews)
(RTTNews) - Global economy is set for a fragile and shallow recovery and the coronavirus outbreak ...Full Story>>

Belgium Consumer Confidence Improves For Second Month

02/19/2020 - 11:21 AM (RTTNews)
(RTTNews) - Belgian consumers were less pessimistic for a second straight month in February, surve ...Full Story>>

Turkish Central Bank Cuts Rates Again

02/19/2020 - 11:09 AM (RTTNews)
(RTTNews) - Turkey's central bank cut interest rates for a sixth policy session in a row, citi ...Full Story>>

U.S. Housing Starts Pull Back After Reaching 13-Year High

02/19/2020 - 09:39 AM (RTTNews)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a pullback in new res ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.