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The monthly retail sales report will be released today. The official data from the US Census Bureau is forecast to show that consumer spending in retail could slow in April.
This comes after retail sales rose the most in two years in March 2019. The strong surge in retail spending was driven by a tighter labor market and inflation that is muted for the most part. A boost to consumer confidence also added to the gains.
As a result, following the strong gains in March, the forecasts for April show that headline retail sales will rise 0.2% on a month over month basis.
Core retail sales forecast point to slightly better performance. Estimates point to a 0.7% increase on the month in April.
The retail sales report will shed light into how the US economy was faring during the start of the second quarter. After robust GDP growth in the first quarter, investors will see if the momentum can hold. Preliminary GDP es...
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