US: Retail sales for August will be constrained by Hurricane Harvey - TDS

Analysts at TDS suggest that US retail sales for August will be constrained by Hurricane Harvey, which had a negative impact on auto sales.

Key Quotes

“TD looks for retail sales to decline by 0.1% m/m while the market expects an increase of the same magnitude. However, measures of core retail sales should be more upbeat. Both TD and the wider market project a 0.5% m/m increase in ex-auto sales while TD looks for an above-consensus 0.3% print for the control group (market: 0.2%).”

“Empire manufacturing for September will be released alongside retail sales and markets expect a decline to 18.0 from 25.2. We will also get August industrial production and University of Michigan sentiment for September later in the morning. The market expects IP to rise by a modest 0.1% m/m while consumer sentiment is expected to slip to 95.0 from 96.8.”