ISHP - Retail Sales Excl. Autos And Gasoline Jump By Most In 18 Months Push Up Atlanta Fed GDPNow To 2.5%
2024-07-17 03:00:00 ET
Summary
- Retail sales without gasoline and auto sales jumped by 0.8% in June from May, seasonally adjusted, the biggest increase since January 2023, spread among many categories of retailers.
- The Atlanta Fed’s GDPNow forecast for Q2 real GDP was updated today with the data from June retail sales, which caused its real GDP forecast to jump to 2.5% today, from 2.0% last week.
- Sales at dealers of new and used motor vehicles and at parts stores are the largest category in retail sales, accounting for 19% of total retail sales.
Auto sales hit by CDK hack. Gasoline and auto sales in dollars hit by dropping prices, but they boost inflation-adjusted consumer spending. ...
Retail Sales Excl. Autos And Gasoline Jump By Most In 18 Months, Push Up Atlanta Fed GDPNow To 2.5%