+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here come retail sales ...

Jun 14, 2016, 17:41 IST

Shoppers walk past a retail shop at Somerset Collection shopping mall in Troy, Michigan.Joshua Lott/Getty Images

The Census Bureau will release data on retail sales in May at 8:30 a.m. ET.

Advertisement

This reading on consumer spending is an important indicator of how healthy the economy is.

"Anemic economic growth over the past two quarters raised fears of a near-term economic slowdown - or worse," wrote Nationwide chief economist David Berson in a note.

"Data in hand for the second quarter suggest that these fears were exaggerated," he said, with real GDP expected to rebound in the second quarter.

"Consumer spending is leading the way, as real personal consumption expenditures (PCE) rose at an annualized rate of 8.0 percent in April - one of the strongest monthly gains in the past decade."

Advertisement

Economists forecast that advance retail sales rose 0.3% month-on-month, according to Bloomberg. That would be down from 1.3% in April, a spike that was the largest relative to expectations in more than three years.

Excluding auto sales, they forecast that sales rose by 0.4%. And, core retail sales, excluding autos and gas, are expected at 0.3%.

The retail sales control group, which feeds into GDP, is expected at 0.3%.

Refresh this page for the latest at the bottom of the hour

NOW WATCH: How to save time and money at Trader Joe's

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article