Online: | |
Visits: | |
Stories: |
Story Views | |
Now: | |
Last Hour: | |
Last 24 Hours: | |
Total: |
Retail sales bounced back once again from the April dip after March's miracle recovery. Up 1.2% (against 1.2% expectations) this is the highest MoM gain since March 2014. Ex-Autos rose more than expected (as did the control group) but the biggest drivers of the gains MoM was gas prices rising – so that's a positive? YoY the biggest drivers of retail sales gains were Autos (+8.2% thanks to shoddy credit) and Food Servce (+8.2%). Crucially this 'good' news brings forward the chances of a September (or even July) rate hike.
Finally, after posting some of the worst numbers since the recession, the control group which feeds into the GDP calculation finally rebounded modestly, printing at 0.7% M/M, above the 0.5% expected, and up from 0.1% last month.