US May retail sales +0.3% vs -0.1% expected

• Prior was +0.4%

Details:

• Ex autos +0.1% vs +0.1% expected
• Prior ex autos +0.4%
• Control group +0.2% vs +0.2% expected
• Prior control group +0.7% (revised to +0.6%)
• Ex autos and gas +0.4% vs +0.6% prior
• Gasoline stations % vs -0.3% m/m prior
• Electronics and appliance stores +0.2% vs -0.5% m/m prior
• Furniture stores +0.4% vs -0.7% m/m prior
• Restaurants +0.4% vs -0.2% m/m prior

This is modestly stronger than expected but the core reading was in-line with a slight downward revision to the prior. Overall, the consumer continues to hold up but note that sales are only up 1.6% y/y, and that's in nominal terms.

After a full slate of data, the US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term is largely unchanged.