US July retail sales -0.6% vs +0.1% expected
- Prior was +0.2%
- Ex autos -0.3% vs +0.2% exp
- Ex gas and autos -0.2% vs +0.4% prior
- Retail control -0.4% vs +0.3% exp
- Retail sales y/y nominal vs +6.72% prior
The thinking is that the US consumer will continue spend so long as the jobs market holds up but this report dents that view. I’d caution that it’s only one report.
This article was written by Adam Button at investinglive.com.