US retail sales control group
- Prior was -0.1% (revised to -0.2%)
Details:
- Retail sales m/m +0.3% versus -0.1% expected
- Ex-autos +0.2% versus -0.1% expected.
- Prior ex-autos +0.1%
- Control group +0.4% versus +0.2% expected
- Prior control group +0.2%
- Retail sales ex gas and autos +0.6% vs +0.1% prior
The US consumer has run strong all year. Sales have now risen in six of the past seven months. Gasoline sales were a drag again this month due to falling prices but otherwise, there was some broad strength with the exception of electronics and building material. Given the latest fall in interest rates, the housing and building categories are more-likely to be a tailwind in 2024.
