US advance retail sales for April
- Advance retail sales-0.2% vs 0.2% estimate. Prior revised to 1.7% from 1.6% previously reported
- Retail sales ex auto 0.1% vs 0.7% estimate. Prior month 1.3% versus 1.2% previously reported
- Retail sales ex auto and gas -0.2% vs 0.3% estimate. 1.1% versus 0.9% previously reported
- Retail sales control group 0.0% vs 0.3% estimate. 1.1% versus 1.0% previously reported
The US retail sales came in weaker than expected in the month of April. All the measures for the month were worth than expections. Revisions were mostly modestly higher. The US consumer makes up some 70% of GDP. The 2nd quarter is not a good start to the quarter.