July 2018 US advance retail sales highlights
Prior was +0.5%
- Ex autos ++0.6% vs +0.3% exp
- Prior ex autos +0.4% (revised to +0.2%)
- Ex autos and gas +0.6% vs +0.4% exp
- Prior ex autos and gas +0.4% (revised to +0.2%)
- Control group +0.5% vs +0.4% exp
- Prior control group +0.3% (revised to +0.2%)
The control group is the spot to watch here and it match forecasts after you account for the downward revision to the June number.
There's some confusing stuff in the details. For instance, auto sales fell 4% m/m in July but the vehicle sales (and parts) data showed a 0.2% rise. Gas station sales increased 0.8% declines a 0.6% decline in gasoline prices.
A big contributor was clothing stories, which rose 1.3% with food services and drinking establishments climbing at the same pace.
Overall, the numbers are solid and show a healthy US consumer.
