- Previous month 0.1% revised to +0.3%
- Retail sales were $704.3 billion, compared to $704.5 billion the previous month.
details:
- Retail Sales 0.0% vs. -0.3% Estimate
- Retail sales YoY +2.3%
- Previous cars 0.4% vs. 0.0% estimates
- Previous excluding autos -0.1% revised to 0.1%
- Control group 0.9% vs. 0.2% estimate
- Control group in previous month 0.4%
- Excluding automobiles and gasoline, 0.8% vs. 0.3% last month. Previous month revised from 0.1%
- Non-store retail sales rose 8.9% from a year ago, while food and beverage service sales rose 4.4% from a year ago.
Some more details of monthly and yearly changes:
- Furniture records growth of 0.6% on a monthly basis and -4.0% on an annual basis
- Building materials and garden equipment 1.4% m/m and -0.9% y/y
- Gas stations -3.0% MoM and -0.4% YoY
- Clothing +0.6% MoM & +4.3% YoY
- Non-store retailers rose 1.9% month-on-month and 8.9% year-on-year.
- Food services and commercial premises +0.3% m/m and +4.4% y/y
- Automobiles -2.0% MoM & -2.2% YoY
Stronger than most corners compared to expectations. In addition, the retail sales revisions were also better. The Dow Jones rose 160 points. The S&P 500 rose 14.28 points and the Nasdaq rose 57 points. The two-year yield is trading near its highs at 4.463%, up 1.0 basis points. The 10-year yield is at 4.208%, -2.1 basis points.
It was the poor performance of the automotive (and petrol stations) sector that did not do well last month. Automobile and parts dealers fell by -2.0% m/m
Cars not working well
