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Tuesday, July 16, 2019 7:20:35 PM EDT

Retail Sales Updated 16-Jul-19 09:50AM ET

Total retail sales were up 0.4% m/m in June ( consensus +0.2%) following a downwardly revised 0.4% increase (from +0.5%) in May. Retail sales, excluding autos, were also up 0.4% ( 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.
Retail Sales0.4%0.4%0.4%1.8%-0.5%
Excluding Autos0.4%0.4%0.6%1.4%-0.6%
Durable goods
Building Materials0.5%-1.5%-1.0%0.9%-6.4%
Nondurable goods
General Merchandise0.2%0.2%0.6%1.5%-0.9%
Gasoline stations-2.8%-0.8%1.6%3.3%3.5%