Overall US retail sales will be ignored in the report at the bottom of the hour. The 20% decline in retail gasoline prices in December will skew the numbers so instead look to the line on sales excluding gas and autos (exp +0.5%) and the control group, which also excludes building supplies (exp +0.4%).

December is a key month for retail sales because of the holidays and it’s a good barometer of the health of the consumer.