The Day at a Glance | May 14 2021

The Top

*Retail sales in the United States disappoint as they recorded no growth in April.

*Argentina could delay paying its debt this month; the amount ascends to 2.4 billion dollars.

*Popularity of cryptocurrencies among investors reflects a search for returns that is concerning: Andrew Baily, Governor of the Bank of England.

*Economic indicators: Industrial production figures will be made public in the US (1% e. Apr.).

Economic environment

Retail sales in the United States didn’t record growth during April. The consensus forecasted 1% growth, but the figures showed a standstill during the month (0%). What stands out is the fact that the sales` least volatile component (excluding gasoline and automobiles) contracted (-) 0.8% while the “control group” – which intends to monitor consumption more closely – fell (-) 1.5% during the month. March`s figures were revised upwards to 10.7%. The data suggests that the rhythm of sales moderated after record sales were logged in March, boosted by the fiscal stimulus in the form of transfers made to citizens. Nevertheless, retail sales logged a 51.22% annual rate of growth, a considerable recovery after the pandemic`s disruptions.