U.S. Retail sales posted a dissapointing 0.2 percent rise in June

Retail Sales

Released On 7/15/2014 8:30:00 AM For Jun, 2014 Prior Prior Revised Consensus Consensus Range Actual Retail Sales - M/M change 0.3 % 0.5 % 0.6 % 0.5 % to 1.3 % 0.2 % Retail Sales less autos - M/M change 0.1 % 0.4 % 0.6 % 0.4 % to 1.2 % 0.4 % Less Autos & Gas - M/M Change 0.0 % 0.3 % 0.5 % 0.3 % to 1.0 % 0.4 %

Highlights Retail sales disappointed for June but again there were upward revisions to the prior month. Retail sales posted a 0.2 percent rise in June, following a 0.5 percent increase the month before (originally up 0.3 percent). Expectations were for a 0.6 percent advance in June. Motor vehicles surprised on the downside, declining 0.3 percent in June after jumping 0.8 percent the month before. Excluding motor vehicles sales gained 0.4 percent, following a rise of 0.4 percent in May (originally up 0.1 percent). Analysts called for a 0.6 percent boost. Excluding motor vehicles and gasoline, sales increased 0.4 after gaining 0.3 percent the month before (originally flat). Analysts projected 0.5 percent for May. Outside the core, strength was seen in general merchandise, health & personal care, and nonstore retailers. Notable declines were seen in building materials & garden equipment and food services & drinking places. While June was disappointing, upward revisions point to a healthy second quarter for consumer spending. This is especially the case for PCEs in GDP as the Bureau of Economic Analysis will use industrial data for motor vehicles instead the retail sales auto component. Source:Econoday, Bloomberg