July trade balance

  • expected is a deficit of 3160
  • prior was -2933m

Retail Sales for July

  • expected +0.4%
  • prior was +0.7%
  • The previous month was driven by good gains in household goods retailing
  • For this month, though ... its unlikely to be as strong as the prior +0.7%
  • Consumer sentiment fell during the month, with Europe (Greece) turmoil and falls on the Chinese stock markets.
  • On the supportive side, though .... business surveys suggest sales momentum is still about.
  • Spending related to housing should remain a positive