Strong US retail sales in July; 3-month average more than double pre-COVID rate

15 August 2023

 

Summary: US retail sales up 0.7% in July, more than expected; annual growth rate speeds up to 3.2%; ANZ: sub-category used for calculating GDP rises 1.0%; long-term Treasury yields rise; rate-cut expectations unchanged; NAB: possible shifts in timing of Amazon Prime Day playing havoc with seasonal adjustment process; higher sales in nine of thirteen retail categories; online segment again largest single influence on month’s result US retail sales had been...

read full story