U.S. ECONOMICS: April Retail Sales Preview
U.S. retail sales (8:30 a.m. ET) are poised for a third month of big gains in April, following a winter sales hit in December and January that has only now been unwound.
Expectations are for increases of 0.4% for the headline and 0.6% ex-autos (with a consensus range of -.1% to 0.6% on the headline and 0.4% to 0.9% for ex-autos), with strength signaled by solid chain store sales that benefited from the late-Easter, a gasoline price bounce, and a construction hours-worked rise that signals a gain for building material sales while vehicle sales face modest headwinds.
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