Bulletin

US retail sales growth increases prospect of rate rise this year

The case for a second-quarter recovery in the US economy has been boosted by new retail sales data. Figures show that retail sales in May rose 1.2% from the previous month and 2.7% from May 2014. While this was in line with expectations, the report pointed to plenty of signs of life in the US economy, with almost all categories seeing gains in May and the US Census Bureau revising up previously weak data for March and April. The retail figures are seen as crucial to those building a case for the Federal Reserve to go ahead this year with its first rate rise in nine years. However a move to raise rates still appears unlikely at next week's meeting of the Federal Open Market Committee.

 

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