• Friday, May 24, 2019 - 06:57 MNI DATA IMPACT: UK Retail Sales Volume Shrinks in May: CBI 0


    --Brexit Uncertainty Weakens Retailers' Investment Intentions

    LONDON (MNI) - Retail sales volumes contracted in May following last month's Easter euphoria, according to the CBI Distributive Trades Survey, published Friday.

    --Retail sales volumes declined to -27 in May, the fastest pace of decline since

    October 2017, following Easter-led growth of +13 in April.

    --Expectations for sales turn positive in June.
    --Orders placed on suppliers in the year to May also fell at their fastest pace

    in 19 months but were expected to contract again next month, albeit at a slower pace.

    ...

  • Friday, May 24, 2019 - 05:01 MNI DATA IMPACT: UK Retail Sales Exceeds Expectations in Apr 0


    By Shaily Mittal and Laurie Laird

    LONDON (MNI) - Retail sales volumes remained steady in April, far exceeding expectations of a retreat after an unusually-strong showing in March.

    The following are the key points from UK Retail Sales data published Friday by the Office for National Statistics.

    - Brexit uncertainty has failed to discourage the UK consumer. Retail sales volumes were unchanged between March and April, far exceeding expections of a 0.8% fall.

    - Unusually-strong sales in March were revised even higher, rising by 1.2% over April.

  • Thursday, May 23, 2019 - 08:44 MNI DATA IMPACT: Canada March Wholesale Sales +1.4%, 2-Yr High 0


    By Greg Quinn

    OTTAWA (MNI) - Canadian wholesale sales rose 1.4% to C$64.1 billion in March, a fourth straight increase and the fastest pace in two years, with gains across most sectors led by building supplies.

    The gain reported by Statistics Canada Thursday was faster than the estimates of 0.8% from Bank of Montreal and 1.1% from CIBC. However, the solid March gain followed downward revisions in both January and February. Statistics Canada lowered its estimate for February sales to a 0.2% gain from 0.3%, and for January to 0.3% from 0.4%.

    Here are some other key takeaways from the data released Thursday:

    - Six of seven major industries reported gains in March, including a 4.5% rise in building materials and...

  • Wednesday, May 22, 2019 - 08:43 MNI DATA IMPACT: Canada March Retail Sales +1.1% On Gas Sales 0


    By Greg Quinn

    OTTAWA (MNI) - Canadian retail sales increased in March for the second consecutive month, up a softer-than-expected 1.1% to C$51.3 billion, led by a 6.0% price-related rise in gasoline sales. The March gain was the biggest increase in total sales since May 2018 and followed an upward revision in March to a 1.0% gain from the 0.8% rise previously reported.

    Analysts in an MNI survey had expected a 1.2% gain.

    The following are the other key points from the March data on retail sales released Wednesday by Statistics Canada:

    - Retail sales excluding motor vehicles and parts were up 1.7%, faster than the MNI expected gain of 1.4%.

    - Excluding price changes, sales in volume terms rose 0....

  • Wednesday, May 22, 2019 - 07:00 MNI DATA IMPACT:US MBA Mkt Composite +2.4%,Refis +8% May 17 Wk 0


    WASHINGTON (MNI) - The Mortgage Bankers Association Wednesday reported a modest rebound in mortgage activity in the May 17 week, with activity up 2.4% on a slight downtick in mortgage rates.

    Here are some of the key features of the report:

    - The Refinance Index rose by 8%, while the Purchase Index fell by 2% in the current week.

    - The 30-year average rate for a 30-year fixed mortgage fell further to 4.33% in the current week from 4.40% in the previous week, hitting its lowest point since January 2018.

    - The unadjusted purchasing index was up 7% from a year earlier.

    --MNI Washington Bureau; tel: +1 202-371-2121; email: kevin....

  • Tuesday, May 21, 2019 - 12:10 MNI POLICY: Fed's Rosengren Sees No Need to Alter Policy Now 0


    By Jean Yung

    WASHINGTON (MNI) - Federal Reserve Bank of Boston President Eric Rosengren said Tuesday that uncertainty over U.S.-China trade relations in light of otherwise healthy growth and a temporary decline in inflation calls for the Fed to be patient in raising or lowering short-term interest rates.

    "I see no clarion call to alter current policy in the near term. I view current policy as slightly accommodative and likely to be consistent with inflation returning to the Fed's 2% inflation target over time. This is likely to occur more rapidly if tariffs are imposed," he said in remarks prepared for The Economic Club of New York.