FOCUS OF THE DAY: Report on the US Retail Sales
Dear traders,
The Commerce Department will release data on retail sales for March at 15:30 Moscow time.
- The consensus forecast is that the report will show retail sales rose 0.9% following a shock decline of 0.2% in February.
- Excluding the automobile sector, sales are expected to grow 0.7% after falling 0.4% in the preceding month.
Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.
Consumer spending accounts for as much as 70% of U.S. economic growth. (Investing.com)
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