How US Retail Sales Could Rock the Market

//How US Retail Sales Could Rock the Market

Friday’s US retail sales report is one of the most important pieces of data on this week’s economic calendar. The Federal Reserve meets next week and this number will play a crucial role in shaping expectations for the central bank’s forward guidance. Economists are looking for a recovery in spending but there are plenty of reasons why the data could miss. First and foremost, labor market gains are easing according to last month’s jobs report. Wage growth is also slowing, gas prices are lower and the 6% decline in stocks in May are all reasons why consumers would have been reluctant to spend last month. Despite the record … (full story)