The US Census Bureau will release the February Retail Sales report on Thursday, March 14 at 12:30 GMT and as we get closer to the release time, here are the forecasts of economists and researchers of six major banks regarding the upcoming data.
Retail Sales are forecast to improve to 0.8% MoM in February from a 0.8% drop in January. Retail Sales ex Autos are expected at 0.5% MoM vs. the prior release of -0.6% while the so-called Control Group used for GDP calculations is expected at 0.4% MoM vs. -0.4% in January. TDS We expect retail sales to rebound a strong 0.8% MoM in February following January's retreat of a similar magnitude.
After a pullback in January which was also perhaps influenced by bad weather, we expect the US consumer to bounce back in February, with the control group of retail sales growing by 0.4% in the month. High frequency credit card suggests that retail consumption should rebound in the month. Firm job gains and strong real wage growth, combined with a shift towards goods consumption, should continue to support strong demand for retailing.
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