US: Retail sales likely to post a soft 0.1% gain for October – TDS

Analysts at TD Securities are looking for the US retail sales to register a soft 0.1% gain for October as a decline in auto sales likely kept headline sales subdued.

Key Quotes

“We expect a rebound in the control group to be the main driver of headline growth, reflecting still-solid consumer spending. Separately, industrial production likely tumbled -0.4% in October owing to a sharp slide in manufacturing activities, which were impacted by the GM strike.”

“Lastly, the NY Empire manufacturing survey will give us a first indication at the performance of the sector in November. The consensus is looking for a modest increase to 6.0 from 4.0 in October.”