Danske Daily: US Retail Sales Expected To Increase
Danske Markets | Aug 13, 2013 07:10AM ET
Today's most interesting release is US retail sales for July. We expect to see an increase in the core measure of retail sales (excluding cars, building materials and gasoline) of 0.3% m/m, as data from chain store sales point to decent sales in July.
Euro area industrial production is estimated to show a 0.4 % m/m increase in June pulled by a strong pickup in German industrial production, while French industrial production was disappointingly weak.
German ZEW expectations are likely to show further improvement in August, as the outlook for both Germany and the euro area seems to have brightened a bit.
Inflation data from Sweden will be in focus. July CPI will be dominated by summer clothing sales but rising global oil prices will push in the other direction. Norwegian retail sales have been very volatile lately and we expect a correction lower after the jump in April.
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