Analysts at TD Securities share a brief preview of the upcoming March Retail Sales data from the US.
Retail Sales to continue to recover from January contraction
"We expect retail sales to rise for a second consecutive month in March (TD: 0.5% m/m, consensus: 0.4%), as they continue to recover from the large 1.1% contraction registered in January."
"Volatile auto and gasoline stations sales will likely modestly boost growth, with the control group acting as the main driver as it recovers from a soft start to the year (TD & consensus: 0.4% m/m). Separately, we project sales in bars/restaurants —the report's only services component— to remain firm in March."
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