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 is largely unchanged.