17 Nov 2014
US October Retail sales suggest a rebound of consumer spending in Q4 – ING
FXStreet (Barcelona) - The Research Team at ING observe that the October Retail sales data suggests the Q4, 2014 consumer spending data would be much stronger than Q3, 2014.
Key Quotes
“After a fairly limp 1.8% consumer spending gain in 3Q14, 4Q14 is shaping up to be much stronger”
“If consumer spending firms in 4Q14, then this will provide further proof for the FOMC of the robustness of the economy, and its ability to withstand a rate hike. Friday’s retail sales data are encouraging. The headline rose 0.3%, better than the 0.2% consensus view.”
“Adding to our sense that the consumer sector is picking up strength, the University of Michigan consumer confidence index staged a very impressive gain in October. The headline index rose from 86.9 to 89.4 - it had been expected to rise to only 87.5.”
“In short, things are looking up for the US consumer sector in 4Q14, even if the GDP numbers may not follow suit.”
Key Quotes
“After a fairly limp 1.8% consumer spending gain in 3Q14, 4Q14 is shaping up to be much stronger”
“If consumer spending firms in 4Q14, then this will provide further proof for the FOMC of the robustness of the economy, and its ability to withstand a rate hike. Friday’s retail sales data are encouraging. The headline rose 0.3%, better than the 0.2% consensus view.”
“Adding to our sense that the consumer sector is picking up strength, the University of Michigan consumer confidence index staged a very impressive gain in October. The headline index rose from 86.9 to 89.4 - it had been expected to rise to only 87.5.”
“In short, things are looking up for the US consumer sector in 4Q14, even if the GDP numbers may not follow suit.”