US July advance retail sales +0.7% vs +0.3% expected
US July retail sales data:
- Prior was +0.4% (revised to +0.3%)
- Control group +1.0% vs +0.4% expected
- Prior control group 0.7% (unrevised)
- Ex autos +1.0% vs +0.4% expected
- Prior ex autos +0.4% (revised to +0.3%)
- Ex autos and gas +0.9% vs +0.7% expected
- Prior ex autos and gas +0.5%
Through the 7 months of 2019, US core retail sales have averaged +1.0% growth per month. That's the strongest 7-month stretch ever (records back to 1992).
Perhaps that overstates the strength of the consumer a tad because there was a big rebound in January after a poor December but there's no doubt that Americans are spending.