Macro Flash Report
Retail Sales
Takeway: June Retail Sales, were encouraging for continued growth in the broader economy, on the industrial side, they signal that the headwinds for the auto sector remain in place. This confirmed what was seen in auto sector data from earlier this month.
Retail Sales – ex. Auto (white) & Retail Sales (blue)![](https://flackglobalmetals.com/wp-content/uploads/FCM-Macro-Report-Flash-Report-07.16-300x220.jpg)
After 2 months of discouraging prints, Retail Sales ex. Auto came in well above expectations of 0.1%, printing up 0.4% MoM – the 5th straight month increases. May data was also revised higher from -0.1% to 0.1%.
Moreover, Retail Sales ex. gas, autos and building materials, known as the “control group,” which closely tracks the consumer spending component in GDP was up 0.9% versus an expected 0.2% – just shy of the March reading, which was the strongest in over a year.