US retail sales statistics for March will be released at 12:30 GMT, tomorrow. Why retail sales and US consumers are important? Domestic consumption of goods contribute about 25% of GDP or around $ 4 trillion as of 2014. …
US retail sales statistics for March will be released at 12:30 GMT, tomorrow.
Why retail sales and US consumers are important?
Domestic consumption of goods contribute about 25% of GDP or around $ 4 trillion as of 2014. Among this Durable goods such as vehicles, furniture account for only $1.3 trillion. Buying of non-durables such as food, clothing account for $2.7 trillion.
Moreover services, which is not covered by retail sales account for 45% of the GDP and mainly consumed at home.
Past trends -
Retail sales as well as personal consumption expenditure have been growing in last few years, however pace of growth is yet to turn robust. Since December sales growth has been in negative. Growth figure is shared in chart.
Retail sales declined -0.6% in March, however excluding Auto sales, it dropped only by -0.1%.
Expectations tomorrow -
Retail sales are expected to grow at 1.1% and excluding vehicles about 0.7% for March.
Impact -
Stronger retail sales viz. personal consumption expenditure will boost the strengths of dollar. However volatilities are expected to remain at high.
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