Societe Generale notes its expectations as follows: We expect retail sales growth to be down to 0.3% in February from 0.1% in January. On a monthly basis, we expect a drop of 1.0%. Retail sales were mainly driven by phar…
Societe Generale notes its expectations as follows:
We expect retail sales growth to be down to 0.3% in February from 0.1% in January.
On a monthly basis, we expect a drop of 1.0%. Retail sales were mainly driven by pharmaceuticals and other sales in non-specialised stores. It is likely that fuel sales declined by around 16% yoy - note that retail sales are reported in nominal terms and low prices impact the figure.
Furthermore, recent SAMAR data on car registrations were negative - there was a decrease of 10.1% yoy in February. We still observe a lack of inflationary pressures and growing real disposable income which should support consumer spending.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
