Another weak month for US retail sales

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Wednesday, May 13 2015

U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $436.8 billion, virtually unchanged from the previous month, and below forecasts on 0.3% increase, but 0.9% above April 2014. Total sales for the February 2015 through April 2015 period were up 1.5% from the same period a year ago.

Seven of 13 major categories showed gains, led by restaurants and bars and online merchants, the report showed. A tiny advance among miscellaneous stores tipped the balance in favor of gainers. Retail trade sales were down 0.1% from March 2015, and 0.1% below last year. Food services and drinking places were up 8.5% from April 2014 and nonstore retailers were up 6.3% from last year. Core Retail Sales were up by 0.1%, also missing expectations on 0.4% incline.

After the data USD was pushed strongly down against its major rivals. Euro is currently around 1.1270 area, Sterling is few points above 1.5680 level, while Aussie is at 0.8060 area, with downtrend likely to continue for USD.

More in this category: « BoE cut its growth forecasts London's housing market at a 10-month high »

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