Analysts at TD Securities note that the US retail sales growth came in above expectations at 0.4% m/m in June, matching a similar expansion in May (mkt: 0.2%).
“The core measures were also solid during the month, with the ex-auto/gas series and control group sales up a robust 0.7% m/m each in June. On net, the retail sales report more than confirms the rebound in consumer spending in Q2 and points to a solid start for Q3.”
“Industrial production growth printed flat for June, falling slightly below expectations at +0.1%. Most of the weakness stemmed from a sharper-than-expected decline in the utilities sector, which dropped -3.6%. Notably, however, manufacturing activity rose a strong 0.4% m/m — its fastest monthly pace this year. That said, we wouldn't read too much into this as the manufacturing sector is likely to remain downbeat in the near term, given trade woes. Nonetheless, this is a good end for the quarter and a better hand-off for production in Q3.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.