US retail sales for April in focus today - BBH

Research Team at BBH, suggests that the US retail sales for April will be the main focus today in the North American session.

Key Quotes

“Median expectations call for a 0.8% gain in headline and 0.5% ex-autos. The component used to calculate GDP is expected to rise 0.4% vs. 0.1% in March, and this would be the largest increase since last July.

US will also report April PPI, March business inventories, and May Michigan confidence. We note that yesterday, April US import prices fell more than expected at -5.7% y/y. This suggests some downside risks to PPI data out today, where median expectations are for a 0.2% y/y gain in headline and a 0.9% y/y gain in core.”