MarketPR
The June retail sales print from the U.S. Census Bureau landed at a 0.2% monthly gain, a fifth consecutive increase, with May revised up to 1% and sharpening the picture of durable consumer demand.
Strip out gasoline stations and the read looks firmer: sales ex-gas rose 0.7%, with lower pump prices driving a 5.3% drop in gasoline-station receipts.
The control group, which excludes autos, gasoline, restaurants, and building materials and feeds directly into GDP goods-consumption estimates, rose 0.5% on the month after upward revisions to the prior two months' figures.
Where spending held and where it didn't Auto dealers led the way, with spending jumping almost 2%. E-commerce rose roughly 2%, a move that likely reflects Amazon's earlier-than-usual Prime Day promotions.
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