- Prior month 0.5% revised to 0.6%
- Retail sales 0.6% versus 0.2% expected.
- Retail sales ex-autos 0.7% vs 0.4% estimate. Last month revised from 0.3% to 0.4%.
- Retail sales control group 0.7% versus 0.4% estimate
- retail sales ex gas/autos 0.7% versus 0.3% last month (revised higher from 0.2%)
The control group moving up by 0.7% feeds directly into GDP and should give a boost for that measure. The Atlanta Fed GDPNow growth estimate was at 3.1% on September 11. It is scheduled to be revised today.
Of note is that the retail sales may be boosted by higher prices from imports. Furniture and home furnishings sales increased by 5.2%. Electronics and p appliance store sales rose by 3.7% and clothing and accessory store sales increased by 8.3%
This article was written by Greg Michalowski at investinglive.com.