Retail Sales Rebound In July – Biggest Jump Since Dec 2016 On Record Auto Incentives

Jon Economy

After declining for two straight months, US Retail Sales in July rebounded dramatically to a 0.6% MoM gain – the most since Dec 2016 – driven a surge in motor vehicles (record incentives) and department stores (more inventives?). Year-over-year saw upward revisions and a rebound to a 4.2% rise in July.
The last two month’s declines in Retail Sales have been revised away magically and we have now gone 5 months without a decline…
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Everything rose except clothing stores (-0.2%), electronics and appliance stores (-0.5%) and gasoline stations (-0.4%)

This post was published at Zero Hedge on Aug 15, 2017.