15 Jul 2014
German ZEW index sends more signs of caution - ING
FXStreet (Łódź) - Rob Carnell from ING believes that US June Retail Sales numbers, released today, made up for the disappointment in May, despite coming in below expectations.
Key quotes
"That said, there were upward revisions to the May figures, which now show a 0.5%mom rise, (up from 0.3% originally), and the core indices were generally stronger."
"These figures raise the chances of a strong 2Q14 GDP result."
"Before this, the consumer spending element was going to struggle to bounce strongly from the rather pathetic 1.0% growth rate recorded for 1Q14."
"Together with a decent bounce back from the other weather constrained components of the 1Q14 GDP release, 2Q14 GDP growth could come in way above the 3-3.5% figures some in the market are currently suggesting."
Key quotes
"That said, there were upward revisions to the May figures, which now show a 0.5%mom rise, (up from 0.3% originally), and the core indices were generally stronger."
"These figures raise the chances of a strong 2Q14 GDP result."
"Before this, the consumer spending element was going to struggle to bounce strongly from the rather pathetic 1.0% growth rate recorded for 1Q14."
"Together with a decent bounce back from the other weather constrained components of the 1Q14 GDP release, 2Q14 GDP growth could come in way above the 3-3.5% figures some in the market are currently suggesting."