Prior month: 0.0% Retail sales came in at $709.7 billion vs $704.3 billion in the month before
Details:
Retail sales: +1.0 vs 0.0% prior Retail sales YoY: +2.7 vs +2.3% priorEx Autos: +0.4 vs 0.4% prior (estimate was +0.1%)Prior ex autos: 0.4% Control group: +0.3 vs 0.9% prior (estimate was 0.1%)Prior month control group: 0.9% Ex autos and gas: +0.4vs 0.8% prior
These are good numbers.
Perhaps equally as important as this report: The CEO says “so far we are not experiencing a weaker consumer overall around the world,” including in early August.
In terms of components:
Motor vehicle & parts dealers: Up 3.6%
This is a significant monthly increase, possibly indicating renewed consumer interest in vehicle purchases.Electronics & appliance stores: Up 1.6%
Showing resilient consumer demand for tech and appliances.Building material & garden equipment & supplies dealers: Up 0.9% m/m in a surprise sign of strength despite warnings from Home Depot and othersFood & beverage stores: Up 0.9%
Indicates steady spending at grocery storesFood services & drinking places: Up 0.3%
Showing continued, albeit modest, growth in dining out. This is a spot to watch.Health & personal care stores: Up 0.8%
Showing consistent growth in this sector.
This article was written by Adam Button at www.forexlive.com.
