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US Retail Sales unexpectedly fell in March

Wednesday, Apr 13 2016
Sales at U.S. retailers unexpectedly fell in March, raising concern consumer spending is losing momentum. The 0.3% drop in purchases followed little change the prior month, Commerce Department figures showed Wednesday in Washington. The median forecast of 81 economists surveyed by Bloomberg called for a 0.1% gain. The decrease was led by the biggest drop in demand for autos in a year, and cutbacks at clothing stores, internet merchants and restaurants. 
The Producer Price Index for final demand fell 0.1% in March, seasonally adjusted, missing forecasts on 0.1% rise, the U.S. Bureau of Labor Statistics reported. Final demand prices decreased 0.2% in February and advanced 0.1% in January. On an unadjusted basis, the final demand index moved down 0.1% for the 12 months ended in March. The decrease in the final demand index in March can be traced to prices for final demand services, which declined 0.2%. In contrast, prices for final demand goods rose 0.2%.
 
Euro is currently being traded few points above 1.13 level, Sterling is around 1.4240 handle, while Aussie is at 0.7640 area.
More in this category: « Eurozone Industrial Production decreased by 0.8% EIA reported a 6.6 million-barrel rise in U.S. crude supplies »

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