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18.11.2019 22:36

Broad-based softness in U.S. retail sales – RBS

Analysts at the Royal Bank of Scotland (RBS) note that the U.S. retail sales, excluding volatile items like autos and petrol, rose a modest 0.1% in October after a 0.1% decline the previous month.

  • “The softness was broad-based - seven out of thirteen categories fell, hinting at softer activity in Q4. Weakness was most evident in clothing and furniture sales.
  • Throw car sales into the mix, which fell 3.7%, and the picture looks even weaker. Could US demand for big-ticket items be cooling? Still, despite the weaker readings the household sector looks set to remain the main source of growth for the US economy, keeping the Federal Reserve on the sidelines, at least near-term. Retailers will be hoping for a Black Friday blowout.


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