August Retail Sales Come In Way Better Than Expected

The number: Retail sales growth came in at 0.4% (vs. 0.3% expected) and excluding autos, sales came in at 0.6%, way better than 0.3% expected.

Markets aren’t moving that hard on the news, but they have gone into positive territory.

If there’s not a huge move, it may be that the good reports from individual retailers caused some of this to be priced in.

Add this to the signs that the double dip is dead >

Background: This is a pretty crucial release, and a strong number would definitely help emphasise the modest “recovery” that’s been showing up in the data.

Analysts are looking for August retail sales growth of 0.3%, and retail sales ex-auto also at 0.3%.

Generally speaking, the August numbers from individual retailers was decent.

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