US July retail sales +1.0% versus +0.3% expected

• Prior month: 0.0% (revised to -0.2%)
• Retail sales came in at $709.7 billion vs $704.3 billion in the month before

Details:

• Retail sales: +1.0 vs 0.0% prior
• Retail sales YoY: +2.7 vs +2.3% prior
• Ex Autos: +0.4 vs 0.4% prior (estimate was +0.1%)
• Prior ex autos: +0.4% (revised to +0.5%)
• Control group: +0.3 vs 0.9% prior (estimate was 0.1%)
• Prior month control group: 0.9%
• Ex autos and gas: +0.4vs 0.8% prior

These are good numbers.

Perhaps equally as important as this report: The CEO says “so far we are not experiencing a weaker consumer overall around the world,” including in early August.

In terms of components:

• Motor vehicle & parts dealers: Up 3.6%
  This is a significant monthly increase, possibly indicating renewed consumer interest in vehicle purchases.
• Electronics & appliance stores: Up 1.6%
  Showing resilient consumer demand for tech and appliances.
• Building material & garden equipment & supplies dealers: Up 0.9% m/m in a surprise sign of strength despite warnings from Home Depot and others
• Food & beverage stores: Up 0.9%
  Indicates steady spending at grocery stores
• Food services & drinking places: Up 0.3%
  Showing continued, albeit modest, growth in dining out. This is a spot to watch.
• Health & personal care stores: Up 0.8%
  Showing consistent growth in this sector.

This article was written by Adam Button at www.forexlive.com.