Retail Sales Excluding Cars And Gas Come In Way Weaker Than Expectations

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Headline: 0.5% month-over-month growth

Expectations: 0.6% month-over-month rise

Analysis: Last month, retail sales came in slightly below expectations, growing by 0.4%. They’ve come in weaker than expected again this month.

Excluding autos and gas, the situation looks much worse. That number was expected to grow by 0.5%, when it actually grew by only 0.2% month-over month. Further, April retail sales less autos hit expectations dead on, at 0.6%.

So a huge part of this month’s growth can be attributed to rising gas prices.

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