US: Core retail sales to drop 0.2% m/m in October - Barclays

The Barclays Research Team offer their expectations on today’s US retail sales report slated for release at 1330 GMT, with the core figures likely to be in the spotlight.

Key Quotes:

“We expect retail sales to have increased 0.2% m/m in October. We forecast gasoline station sales to stage a firm rebound, driving headline sales higher.

Auto sales reported by manufacturers recorded decent growth in October, and we expect a similar print at the retail level. For sales excluding autos, we forecast growth of 0.2% m/m.

At the core level, however, we forecast a decline in sales of 0.2% m/m.”