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US retail sales to provide insight of the economic strength – Investec

FXStreet (Delhi) – Rhys Herbert, Senior Economist at Lloyds Bank, suggests that today’s release of the September retail sales report will provide an update on the strength of US consumer spending.

Key Quotes

“This was one of the key drivers of GDP growth in Q2 and data so far suggest that continued to be the case in Q3. The fall in gasoline prices will depress the headline growth rate, as the retail sales figures are not adjusted for inflation. However, strong car sales and sizeable gains in department store activity should underpin real spending growth.”

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