US Economics

US Data Response

16 April, 2018

Retail Sales (Mar.)

Despite the stronger 0.4% m/m gain in underlying retail sales in March, real consumption growth looks to have slowed to around 1% annualised in the first quarter. Nonetheless, with incomes boosted by the recent tax cuts and a strong labour market, the conditions are in place for spending growth to pick up again in the second quarter.

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