Retail sales data for May
– +1.3% (unrevised)
– Prior control group +0.9% (revised to +1.0%)
– Ex autos +0.4% vs +0.4% exp
– Prior ex autos +0.8% (unrevised)
The control group is the key line in the report. It excludes autos, gasoline and building materials and in April it was very strong at +0.9% compared to +0.4% expected and was revised even higher today.
