Retail Sales Rebound Strongly in July

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Economic Update: Retail Sales

The Commerce Department reported that Retail Sales were up +0.8% in the month of July, which was well above with the consensus for +0.2%.

Prior month’s readings for comparison purposes:

• June: -0.7%
  
• May: -0.2%
  
• April: -0.2%
  
• March: +0.8%
  
• February: +1.0%
  
• January: +0.6%
  
• December: +0.0%
  
• November: +0.4%
  
• October: +0.6%
  
• September: +1.1%
  
• August: +0.3%

When you strip out the sales of autos, sales were up +0.8%, which was also well above the consensus for a reading of +0.3% and last month’s level of -0.8%.

And when you take out autos and gasoline, sales were up +0.8%.

Other stories on the US Economy to review:

• Wholesale Inventories Decline - And Yes, you should Care
  
• Q2 Worker Productivity and Labor Costs Rise
  
• ISM Services Perks Up
  
• Job Growth Improves in July
  
• Factory Orders Miss Mark in June
  
• Challenger Planned Job Cuts Drop in July
  
• ISM Manufacturing Still Sub-50 in July
  
• ADP Employment Report Surprises to Upside in July
  
• Consumer Confidence Perks Up in July, But...
  
• Chicago PMI Headline BTE, But Employment Dives
  
• Personal Income Up, Spending Flat in June
  
• GDP Slows to 1.5% in Q2
  
• Pending Home Sales Down in June
  
• Durable Goods Up on Transportation Orders
  
• Markit's Flash Manufacturing PMI Weakest in 19 Months
  
• Philly Fed Down Again in July
  
• LEI Falls Again in June
  
• Existing Home Sales Fall in June
  
• Housing Starts Higher, Permits Lower in June
  
• Industrial Production Above, Capacity Utilization Below Expectations
  
• CPI Shows Inflation Flat in June
  
• Empire Manufacturing Improves in July
  
• Retail Sales Disappoint in June
  
• PPI Up in June
  
• Import/Export Prices Down in June
  
• NFIB Small Business Optimism Index Pulls Back Again

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