- Prior month 0.0% (revised to -0.2%)
Details:
- Retail sales for May +0.1% vs +0.3% expected
- Ex-auto MoM -0.1% vs +0.2% expected. Prior month +0.2% (revised to +0.1%)
- Control group +0.4% vs +0.4% expected. Prior month -0.3% (revised to -0.5%)
- Ex auto and gas +0.1% vs. -0.1% prior (revised to -0.3%)
- Total nominal sales for the March 2024 through May 2024 period were up 2.9% y/y
Bank of America flagged the possibility of downward revisions based on its card data but they also thought the headlines would be strong. Given the totality of the data, this is undoubtedly negative for the US dollar and positive for bonds.
Details:
- Motor vehicles +0.8% m/m
- Furniture -1.1%
- Electronics +0.4%
- Building materials -0.8%
- Food and beverage stores -0.2%
- Gasoline stations -2.2%
- Clothing +0.9%
- General merchandise stories +0.1%
- Nonstore retailers (online) +0.8%
This article was written by Adam Button at www.forexlive.com.
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