Categories: Market Overview

US retail sales barely keep pace with inflation

US retail sales continue to grow strongly, adding 0.9% in April after 1.4% a month earlier and slightly weaker than the expected 1.0%.

Sales excluding autos and gasoline rose 0.6% after 2.1% a month earlier and against an expected 0.4% increase.

Remember that we see data adjusted for seasonal factors but not for price adjustment. The cost of goods sold in April was 8.2% higher than in the same month a year earlier, which is lower than the 8.3% CPI growth over the same period.

Nevertheless, we see that sales growth keeps pace with inflation, which might boost the demand for risky assets in the financial markets. Continued strong demand for goods and services is somewhat easing fears of falling corporate earnings and raising hopes that the economy can cope with the policy tightening that started in March.

The FxPro Analyst Team

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team

Recent Posts

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

11 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

11 hours ago

WTI crude Wave Analysis 13 November 2024

- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…

11 hours ago

Japanese inflation continues to rise

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…

14 hours ago

Higher US inflation will not stop the Fed from cutting rates

US CPI went in line with expectations, but this hasn't changed the outlook for the…

16 hours ago

Crypto market locks in weekly rally

The crypto market experienced a slight decline in market capitalisation after a week-long rally. Bitcoin…

23 hours ago

This website uses cookies