Forex▲ Bullish
U.S. Retail Sales Edge Higher, Control Group Shows Strength
Retail sales rose 0.2% in June, matching forecasts. The control group excluding gasoline and autos advanced 0.5%, a sign of solid consumer spending.
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U.S. retail sales rose 0.2% in June, matching economist forecasts. The headline number was held back by a 5.3% drop at gasoline stations, which reflected lower prices at the pump. Strip out the price effect, and real gasoline sales rose 4.9%.
The control group, which strips out volatile categories like gasoline and autos, advanced 0.5%. Sales at sporting goods stores jumped 1.3%, and electronics and appliance retailers gained 0.8%. Non-store retailers, a proxy for online shopping, climbed 1.9% and are up 14.2% from a year ago.
Auto sales remained strong, rising 1.9% for the month and 3% in the second quarter. That represented a sharp acceleration from the prior two quarters. Building materials and garden supply stores were little changed, up 0.1%.