US: Retail sales for August expected to increase by 0.3% - Danske Bank
|Analysts at Danske Bank suggest that following the upward surprise in US CPI inflation yesterday, focus on the macro front today turns to US retail sales for August, which they estimate increased by 0.3%.
Key Quotes
“Preliminary consumer confidence for September from the University of Michigan is also released. Like business confidence, consumer confidence is still very high, but Hurricane Harvey and an unstable political environment within the US may have weighed on it and we estimate a slight fall to 95.0. Also, keep an eye on the five- to 10-year inflation expectations in the survey. They trended lower during 2015 and 2016 but have moved sideways at around 2.5% for a year now.”
“The US Empire index (business confidence) is likely to retreat a bit in September after hitting the highest level in three years in August. The indicator is quite volatile and the August level was likely to be 'too strong' relative to the underlying development. US industrial production for August is also due and estimated to increase 0.1% m/m.”
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