Retail Sales Fall 0.3 per cent, Missing Expectations

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Retail sales figures are out.The headline number fell 0.3 per cent versus expectations of a 0.2 per cent drop.

Retail sales less autos were flat versus expectations of a 0.2 per cent gain.

Retail sales ex auto and gas was down 0.3 per cent versus expectations of a 0.4 per cent gain.

Retail sales “control group” was down 0.1 per cent versus expectations of a 0.4 per cent gain.

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ORIGINAL: Finally, the economic data drought comes to an end.

At 8:30 we get October retail sales.

Nomura has the preview:

US retail sales: Halloween spending and preparations for Hurricane Sandy boosted chain store sales for a certain set of retailers late in the month, but dealers reported a drop off in auto sales that will temper headline retail sales in October. We forecast an increase of just 0.1% in October retail sales compared with an increase of 1.1% in September (consensus: -0.2%); excluding autos we expect retail sales to have increased by 0.5% (consensus: +0.2%). So-called control retail sales (sales excluding gasoline stations, autos, and building materials) are expected to increase by 0.4% (consensus: +0.3%) (08:30 EST).

We’ll have the number LIVE right here.

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