- Prior was 0.6% revised to 0.8%
Details:
- Retail sales MoM 0.7% versus 0.3% expected
- Ex-autos 0.6% versus 0.2% expected.
- Prior ex-autos 0.6% revised to 0.9%
- Control group 0.6% versus 0.0% expected.
- Prior control group 0.1% (revised to 0.2%)
- Retail sales ex gas and autos 0.6% vs 0.3% prior revised from 0.2%
- Retail Sales YoY x.xx% vs 2.47% prior.
Stronger than expected retail sales across the board including the revisions. The consumer is about two-thirds of its GDP. This report suggests that the consumer is not pulling back. Yields are moving higher with the tenure now up 8.6 basis points at 4.796%. Two year yield is up to 5.15% up 5.3 basis points. Third-quarter growth is looking strong.
The Atlanta for GDPNow is projecting 5.1% from its model. They will release a revised figure today.