The January report on retail sales is set for release from the Census Bureau at 8:30 am ET.
Expectations are for sales to fall 0.4% month-on-month and fall 0.5% when excluding auto sales.
Excluding auto and gas sales, retail sales are expected to rise 0.4%.
In December, retail sales disappointed, falling 0.9% over the prior month as sales at gasoline stations declined 6.5% amid the huge decline in the price of oil.
In a note to clients ahead of Thursday’s report, Ian Shepherdson at Pantheon Macro — who expects retail sales to fall in-line with expectations — wrote that gasoline sales could take up to 0.9% out of the headline sales number in January.
We’ll be back with the live numbers when they hit.
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