US: March retail sales reports still reveals the resilience of consumer spending – Wells Fargo By MSalordFX RetailSales UnitedStates Banks
al goods spending is tracking to rise at around a 2.5% annualized pace in the first quarter, according to analysts at Wells Fargo. “Predictably gas stations saw the largest percentage increase from February, posting an 8.9% increase on the month. The fact that gas prices rose a lot more than that suggests consumers are combining trips or taking advantage of work-from-home flexibility if they are able to. Supply chain constraints still weigh on sales activity for auto dealers, where sales fell 1.
“Inflation is not going away, but it will likely stop getting worse and that means less of a headwind for spending. The March retail data still suggest real goods spending is tracking to rise at around a 2.5% annualized pace in the first quarter.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US retail sales climb 0.5% in March, falling short of estimatesAmericans' spending at stores and restaurants rose to a new record in March as inflation hit a 41-year high
Read more »
US inflation jumped 8.5% in March, making it the highest since 1981 -MURPHY CANYON (KUSI) – Americans are facing historically high prices impacting the costs of food, gas, and of course, housing. A new report released Tuesday shows inflation soared in 2022 at its fastest pace in 40 years, since the early 1980s. KUSI’s Hunter Sowards was live from Murphy Canyon with more details on the current inflation trend. Categories: California News,...
Read more »
USD/CHF retreats from 0.9330 as investors shrug off US inflation worries, US Treasury yields plungeUSD/CHF retreats from 0.9330 as investors shrug off US inflation worries, US Treasury yields plunge By Sagar_Dua24 USDCHF Fed Inflation InterestRate YieldCurve
Read more »
March top home sales: Cherry Hills mansion, Cherry Creek penthouseThe CEO of a human resources and recruiting software company sold his Cherry Hills Village mansion plus an adjacent parcel for $9 million in March, earning the top spot on BusinessDen’s monthly top…
Read more »
March 2022 van sales revealed: who were the winners and losers?Computer chip shortages disrupted an important month for van sales, but more than 40,000 new models still left showrooms 👊 But which were the most popular?
Read more »
Retail Sales Rose 0.5% in March Amid Inflation Jump; Import Prices Hit 11-Year HighRetail sales were expected to increases 0.6% in March, according to Dow Jones estimates.
Read more »