Dow Jones drops on retail sales data

<p>Retail sales data has pushed the Dow Jones lower.</p>

The Dow Jones is down in today's (April 12th) trading in the US on the back of retail sales data for the country that did not meet expectations.

It was revealed by the US Commerce Department that consumers spent a total of $418 billion (£272 billion) during March.

This was shown to be a drop of 0.4 per cent on the previous month and is the second time in the last three months that the figure has fallen.

Paul Dales, economist at Capital Economics, stated he does not believe the slowdown in US retail sales is going to prove to be a lasting trend.

"The surprise fall in retail sales in March adds to other evidence that the US economy is experiencing another spring slowdown," he told BBC News.

Following the announcement from the US Commerce Department that retail sales were 0.4 per cent down last month, the Dow Jones dropped by 63 points and at 16:00 BST was recorded at 14,801.80, down 0.43 per cent on the start of the day.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.