Retail Sales growth has slowed since the Q1 rebound but June saw a notable surge, with the control group (used for GDP) surging 0.7% MoM (4.6% YoY – the most in a year)
Retail sales were higher for almost everything except:
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Electronics and Appliance Stores -0.3%
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Gasoline Stations -2.8%
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Department Stores -1.1%
With non-store retail sales (Amazon etc.) soaring against the demise of department stores
So, over to you Mr.Powell, the consumer seems very comfortable and is spending… do we really need a rate cut?
via ZeroHedge News https://ift.tt/2jHZbjd Tyler Durden