- Prior was +0.4%
Details:
- Ex autos +0.1% vs +0.1% expected
- Prior ex autos +0.4%
- Control group +0.2% vs +0.2% expected
- Prior control group +0.7% (revised to +0.6%)
- Ex autos and gas +0.4% vs +0.6% prior
- Gasoline stations % vs -0.3% m/m prior
- Electronics and appliance stores +0.2% vs -0.5% m/m prior
- Furniture stores +0.4% vs -0.7% m/m prior
- Restaurants +0.4% vs -0.2% m/m prior
This is modestly stronger than expected but the core reading was in-line with a slight downward revision to the prior. Overall, the consumer continues to hold up but note that sales are only up 1.6% y/y, and that’s in nominal terms.
After a full slate of data, the US dollar is largely unchanged.
US May retail sales (headline)