U.S. retail sales rose 0.5% in July, with the ex-auto component up 0.6%
U.S. retail sales rose 0.5% in July, with the ex-auto component up 0.6%, a little better than expected. But, the 0.5% increase in June sales was revised down to 0.2% after the 1.2% surge in May (revised from 1.3%); the 0.4% June gain in the core rate was bumped down to 0.2% following May's 1.4% jump. Sales excluding autos, gas, and building materials increased a solid 0.6% after rising 0.2% previously. Auto sales edged up 0.2% last month, while gas station sales rose 0.8%. Building materials were flat. Furniture sales dipped 0.5%. Clothing sales jumped 1.3%. Health, personal care sales dropped 0.4%. Non-store retailer sales were up 0.8% from a 0.7% gain previously (revised from 1.3%) with no clear effect from Amazon's Prime Day. General merchandise rose %. Miscellaneous sales rose 0.7%. Sporting goods sales dropped 1.7%. All in all this is a decent report for sales.