US Core Retail Sales and Import Prices Update

US core retail sales grew 0.5% in April with significant upward revisions, leading Goldman Sachs to raise its Q2 GDP tracking to +1.9%. Meanwhile, import prices came in higher than expected due to computer hardware costs, while jobless claims saw a modest rise.

Key Takeaways

• 1.Core retail sales rose 0.5% in April, exceeding consensus and benefiting from upward revisions in previous months.
• 2.Goldman Sachs boosted its Q2 GDP tracking estimate to +1.9% following the strong retail data.
• 3.Core import prices rose 0.7% in April, driven significantly by a 9.6% jump in computer peripherals and parts.

Table of Contents

• BOTTOM LINE
• US MAP
• KEY NUMBERS
• MAIN POINTS
• Disclosure Appendix

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