US March retail sales 0.5% vs 0.6% estimate

• Retail sales for March 0.5% vs 0.6% estimate
• Prior 0.3% revised to 0.8% revised from 0.3%
• Ex Autos (core) 1.1% vs 1.0% estimate. Last month 0.2% revised to 0.6%
• Ex Auto and gas 0.2% vs -0.1% last month (revised from -0.4%).
• Control group (Ex auto, gas and building materials) -0.1% vs 0.2% estimate. Last month -1.2% revised to -0.9%

YoY from March 2021:

• Retail sales 18.2% vs 17.6% last month
• Ex Autos 18.2% vs 17.7% last month
• Ex Auto and gas 60.2% vs 15.8% last month

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The control group is weaker for the 2nd month (although the prior month was revised higher to -0.9% from -1.2%). Nevertheless, there is some good in the report as

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