US: Retail sales to post a strong 0.5% rise in May - TDS

Analysts at TDS are looking for US retail sales to post a strong 0.5% rise in May, propped up by higher gasoline prices along with a solid 0.3% increase in the core control group (market: 0.4%, 0.4%).

Key Quotes

“More favorable weather also suggests a boost from building materials and food services. Import prices will be released alongside retail sales and the market looks for a 0.5% m/m increase, with ex-petrol prices expected to rise 0.2%.”

“Initial jobless claims are the only other release and the market looks for claims to edge higher to 223k.”