Total retail sales were up 0.4% m/m in June (Briefing.com consensus +0.2%) following a downwardly revised 0.4% increase (from +0.5%) in May. Retail sales, excluding autos, were also up 0.4% (Briefing.com consensus +0.2%) following a downwardly revised 0.4% increase (from +0.5%) in May.
Core retail sales, which exclude motor vehicle, gasoline station, building materials, and food services and drinking places sales, jumped 0.7% m/m.
Gasoline station sales declined 2.8% following a 0.8% decline in May.
Motor vehicle sales were up 0.7% for the second straight month.
Building material sales jumped 0.5% after declining 1.5% in May.
Food services and drinking places sales rose 0.9% after increasing 1.0% in May.
Sales at nonstore retailers surged 1.7% for the second straight month.
Electronics and appliance store sales (-0.3%) and department store sales (-1.1%) were the few weak spots in June.
The key takeaway from the report is that it was a solid report overall and will diminish the prospect of a 50-basis points cut at the July 30-31 FOMC meeting.| JUN | MAY | APR | MAR | FEB | |
|---|---|---|---|---|---|
| Retail Sales | 0.4% | 0.4% | 0.4% | 1.8% | -0.5% |
| Excluding Autos | 0.4% | 0.4% | 0.6% | 1.4% | -0.6% |
| Durable goods | |||||
| Building Materials | 0.5% | -1.5% | -1.0% | 0.9% | -6.4% |
| Autos/parts | 0.7% | 0.7% | -0.4% | 3.4% | -0.3% |
| Furniture | 0.5% | -0.1% | 0.8% | 1.4% | 0.6% |
| Nondurable goods | |||||
| General Merchandise | 0.2% | 0.2% | 0.6% | 1.5% | -0.9% |
| Food | 0.5% | 0.1% | 0.3% | 1.9% | -2.3% |
| Gasoline stations | -2.8% | -0.8% | 1.6% | 3.3% | 3.5% |
| Clothing | 0.5% | -0.2% | -0.2% | 2.1% | -1.5% |
| e*retailing/non-store | 1.7% | 1.7% | 0.8% | 1.0% | 0.8% |
, Copyright ©2019.All rights reserved.3rd Party Research Disclosure /public-19:20:34