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US Headline Retail Sales Stall In July, Core Soars
A slow-down in headline retail price growth was expected due to falling gas prices, but ex-Autos/Gas, sales (notional remember) were expected to rise. Analysts were almost right with the headline actually unchanged MoM (below the +0.1% expectation) but ex-Autos up 0.7% MoM vs +0.4% expected. So pretty much everything was higher apart from autos, gasoline, and general merchandise stores... Notional retail sales have not fallen for 7 straight months which pushed the YoY retail sales growth higher for both headline and core... Finally, after 4 straight months 'real' retail sales drops, real retail sales were flat in ... (full story)
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Retail sales little changed in July amid fall in gas prices and drop in auto sales
Retail activity was flat in July as falling fuel prices held back gas station sales and consumers turned more heavily to online shopping, the Census Bureau reported Wednesday. While advance retail sales were unchanged, total receipts excluding autos rose 0.4%. Economists surveyed by Dow Jones had been looking for a 0.1% increase in the topline number and a flat total ex-autos. The numbers are adjusted seasonally but not for inflation, and come during a month when the consumer price index also was flat. A tumble in fuel prices off their record nominal highs pushed down sales at the pump, with gas station receipts off ... (full story)
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