Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

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To: snerd who wrote (15894)	6/11/1999 10:03:00 AM
From: Wes Stevens	Read Replies (1) of 56535

Be careful this morning. Analyst are saying the retail sales numbers were bad and will push the fed. 06/11 09:30 U.S. retail sales pushes Fed closer to boost rates NEW YORK, June 11 (Reuters) - A stronger-than-expected U.S. May retail sales report on Friday reinforced already strong expectations that the Federal Reserve will hike short-term interest rates later this month to fend off rising price pressures. "The retail sales report...it's just another one of those numbers in the growth area that represents a red flag to (Fed officials)," said Thomas Carpenter, chief economist at ASB Capital Management in Washington, D.C. The U.S. Commerce Department said retail sales climbed an unexpected 1.0 percent in May after a 0.4 percent gain in April, upwardly revised from a previously reported rise of 0.1 percent. Analysts had predicted an overall 0.8 percent gain, according to a Reuters survey. Meanwhile, sales excluding volatile autos grew 0.5 percent, the government said. The ex-auto figure was in line with expectations but followed a revised 0.8 percent advance in April, double the prior estimate. Consumer spending accounts for about two-thirds of gross domestic product in the U.S. COPYRIGHT © 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.

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