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July retail sales of 0.5% came in line, accelerating form a revised 0.3%.
Ex-auto sales came in +.05% ahead of estimates of 0.3%. The previous month was revised from 0.0% to +0.2%.
And ex-autos and gasoline, the number was +0.3%, ahead of the 0.2% expected.
The big story: Solid headline numbers.
The bigger story: Big previous-month upward revisions across all.
Original post: The last really big economic datapoint for the week: The advance look at July retail sales.
Analysts are expecting 0.5% headline growth (up from 0.1%) last month.
Ex-auto the number is expected to be just 0.3% and ex-auto/gas growth is expected to be just 0.2%.
Interestingly, while economic data has weakened, it hasn’t been that bad. Certainly markets, not data, are leading the way.
The number is out at 8:30.