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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The annual revisions to total retail sales haven’t wildly changed the monthly profile, with two weaker months in Feb/Mar (-0.7/-0.6% M/M) after a still very strong March (+2.8% M/M), although they have taken some of the pace off the recent trend with a three-month rate of 5.7% annualized vs 7.7% prior.
- At the margin, the latest two months have seen a stabilization in the rate of decline at those -0.6/-0.7% readings vs the previously seen -0.2% in Feb and -1.0% in Mar, and in real terms was likely an improvement compared to Feb considering the decline in goods prices.
- Underlying measures have seen more outright negative revisions in recent months though. Ex autos and gas sales were unrevised at -0.3% M/M in Mar but are now -0.5% in Feb (prior 0.0%) and +2.2% in Jan (prior 2.8%). It leaves a three-month nominal growth rate at 5.6% annualized from the previously seen 10% annualized.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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