The number:
Hey! We’re not dead yet.
Sure the headline retail sales number was down 0.2%, but that’s well above the decline of 0.5% that was expected.
And on the core ex-auto and gas, we actually increased by 0.3%, which is faster than the 0.2% growth from April, and expectations of 0.2%.
So really not bad! The double dip will have to wait for another month.
Here’s the overall breakdown:
Stocks are up nicely.
The full report can be downloaded here.
Background: Here we go. A big read on the consumer for May…
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