US: Retail sales and industrial production in focus this week – Nomura

Analysts at Nomura point out that we will receive key data of US economy for June this week with retail sales and industrial production releases.

Key Quotes

“We expect core (“control”) retail sales in June to increase solidly by 0.4% m-om, consistent with firming consumer spending activity during Q2.”

“For industrial production, we expect a healthy 0.9% m-o-m gain, rebounding from the 0.1% decline in May.”

“In addition to retail sales and industrial product, the Empire State and Philly Fed surveys released this week will provide the first indicators of manufacturer sentiment in July. We believe healthy business activity will keep both indexes in expansionary territory but see some downside risk from recent trade policy developments.”