- Headline sales were flat in August, short of expectations for a 0.2% rise.
- July was revised to +0.3% from +0.5%.
- Ex-autos +0.1% vs. +0.3% exp, July revised to +0.3% from +0.5%.
- Ex-autos, gas and building materials +0.1% vs. +0.3% in July
- Aug PPI +6.5% y/y, in-line with expectations
Definitely negative news and risk trades have edged lower. I’d expect them to continue lower on this.
