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Fall In US Retail Sales

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Fall In US Retail Sales

Plenty of US data available this morning to fill in the current picture of the recovery situation in the world’s largest economy.

The weekly Redbook Index has just been released for the week ending May 9th. Month on month this retail sales proxy number is at 1.1%, this is up on the previous weeks 0.0% reading. Year on year the measure is 4.2%, slightly lower than the previous reading of 4.4%.

The Redbook index is a very valuable short-term measure of activity within the US retail sector, it can however be volatile and as such is better taken as a general measure of the trend within this sector. More stable indicators of retail activity are the official Retail Sales numbers published today by the US Census Bureau. The headline April Retail Sales number for the economy is 0.1% month on month, this represents a large fall off on the March reading of 1.1% and comes in below of the 0.4% predicted by the market. The Ex-Autos Retail Sales figure has come in at 0.0% in April, this is also lower than the March number of 0.7% and again fails to meet the expected print of 0.6%.

Trade prices were also released this morning by the US Department of Labor. The Import Price Index has risen year on year to -0.3% from a reading of -0.6% in March. The month on month Import Price Index is lower at -0.4%, this compares to the previous month reading of 0.4% and comes in ahead of the expected 0.3% growth.

On the export side of the equation the April Export Price Index month on month for the US has printed a reading of -0.1% this is Lower than the March number of 1.0% and also below the anticipated 0.3% figure. Year on year this number also fallen to 0.1% from a previous months reading of 0.2%.

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