Daily Management Review

US retail sales are better than forecast


05/13/2016


In April 2016, retail sales in the US increased by 1.3% compared with the previous month, according to the Ministry of Commerce data. The growth rate was the highest since March 2015.



pixabay
pixabay
Analysts surveyed by Bloomberg expected a less significant increase in the index - by 0.8%.

In March, retail sales decreased by 0.3%.

Retail sales, excluding autos, gasoline and building materials (so-called "control group" - an indicator used to calculate US GDP) grew by 0.9% in April. Experts forecast an increase of 0.4%. March showed an increase of 0.2% instead of the previously reported 0.1%.

Retail sales excluding autos rose last month by 0.8% after rising 0.4% in March. Analysts had expected growth rate of 0.5%.

Sales of 11 out of the 13 major categories of retail goods increased in April. Thus, sales of furniture rose by 0.7%, food and beverages - by 0.9%, clothing - by 1%. Dealers recorded a sales growth of 3.2%. At the same time, sales of construction products decreased by 1%, sales of goods of total demand did not change compared with the March level.

Improved financial situation of the Americans, reflecting debt reduction and savings growth show that consumers will be able to adjust relatively easily to mounting gasoline prices and deteriorating situation on the labor market. In turn, this will help retailers to recover from a disappointing start of the year.

The American department store chain J.C. Penney's, contrary to market expectations, has reduced revenues in the I quarter of 2016 due to drop in sales.

According to the company's report, net loss was $ 68 million, or $ 0.22 per share, compared with a loss of $ 150 million, or $ 0.49 per share, a year earlier. Sales declined from $ 2.86 billion a year earlier to $ 2.81 billion.

source: bloomberg.com






Science & Technology

30,000 Fake Accounts Cracked Down Upon In France by Facebook

First Laser Sensors Set To Be Rolled Out By Self-Driving Start-Up

To Keep Elderly On The Move, Japan Automakers Look To Robots

AMD purchases wireless VR developer Nitero

In Order To Combat Fraudsters, Experian Enlists Behavioral Biometrics Startup

Daimler and Robert Bosch to create a self-driving car

Miniature Lab Conducts Successful Experiments In The Outer Space

Germany is not afraid of digitalization

Driver-less Car Sector Shaken Up By Intel's $15 Billion Purchase Of Mobileye

Talk To Appliances, Or Text Them? Smart Condo Conundrum

World Politics

World & Politics

Various Countries’ Computer Security Watchdogs Collaboratively Discover Activities Related To Large Scale ‘International Cyber-Attack’

Europeans keep € 15 billion in obsolete money

Japan invited to conclude a trade agreement with the EU

Present “Great Repeal Bill” Punches Holes On Prime Minister May’s Worker’s Rights Agenda

China to become second largest importer of wine

EU Ambassador Tells US To Think Twice Before Making UN Irrelevant,

Skytrax names best airports in the world

To Define Trump Trade Agenda, Space Given To Mnuchin By G20 Ministers