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May Retail Sales Preview - 08:30............>

US DATA
US DATA: May Retail Sales Preview - 08:30 EDT/13:30 BST
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- May retail sales are expected to rise by 0.6% based on the Bloomberg consensus
and by 0.7% based on an MNI survey of analysts after a decline of 0.2% in April.
- Vehicle sales will be the key driver of the May rebound, as industry sales
surged in the month.
- Excluding the vehicle category, retail sales are expected to be up 0.4% by
both BBG and MNI, but gasoline prices are not likely to be a big help, as prices
fell and seasonal adjustment factors look for solid unadjusted gains in May and
will adjust accordingly.
- Analysts seen rebounds in electronics and clothing sales as adding to the
control group.
- There is no clear survey risk for overall or ex-autos sales, with misses
roughly evenly split in recent years, so a surprise is possible, but the
direction uncertain.

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