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U.S Retail Sales increased less than expected

Friday, Nov 13 2015
Sales at U.S. retailers rose less than forecast in October as consumers pocketed the money saved after fueling up their cars. Purchases increased 0.1% after being little changed in September, Commerce Department figures showed Friday in Washington. The median forecast of 84 economists called for a 0.3% gain. Receipts at service stations dropped for a fourth consecutive month as gasoline prices declined. Seven of 13 major retail categories showed gains last month, led by building-material stores, restaurants and non-store merchants, which include Internet sales, according to the report from the Commerce Department. 
 
U.S. wholesale prices unexpectedly declined in October for a second month, depressed by falling costs of food costs and new model light trucks.The 0.4% drop in the producer-price index followed a 0.5% decrease in September that was the biggest in eight months, Labor Department figures showed Friday. The median forecast in a projected a 0.2% gain. The gauge was down 1.6 percent from the year before, the most in records back to November 2010.
 
Despite the figures USD gained slightly. Euro is currently being traded few points below 1.0750 level, Sterling is around 1.5230 handle, while Aussie is above 0.7130 area. Later today, Consumer Sentimetn figures are scheduled for a release.
More in this category: « UK Construction Output fell by 0.2% Consumer Sentiment at a four-month high »

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