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US Retail Sales up by 0.6%

Friday, Oct 14 2016
US Retail Sales up by 0.6%

Retail sales climbed in September by the most in three months, showing American shoppers began to spend freely again after shying away from merchants earlier in the quarter. The 0.6 percent advance followed a revised 0.2 percent decline in August, Commerce Department figures showed Friday. So-called core sales, used to calculate gross domestic product, rose a smaller-than-projected 0.1 percent. Years of increased hiring and a slow acceleration in worker pay have laid a foundation for steady household spending. While third-quarter purchases will probably fall short of the vigorous pace from April through June, the broad-based pickup across the retail spectrum shows household demand may be gathering pace.

 

The Producer Price Index for final demand rose 0.3 percent in September, seasonally adjusted,  the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in  August and declined 0.4 percent in July. On an unadjusted basis, the final demand index  increased 0.7 percent for the 12 months ended in September, the largest 12-month rise since  advancing 0.9 percent in December 2014. In September, over three-quarters of the advance in final demand prices can be traced to a 0.7 percent increase in the final demand goods index. Prices for final demand services inched up 0.1 percent.

 

Euro is currently being traded around 1.0980 level, Sterling is at 1.22 handle, while Aussie is around 0.76 area.

Last modified on Saturday, 15 October 2016
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