US retail sales to post a 0.1% increase in June - TDS

Analysts at TDS expect US retail sales post a 0.1% increase in June, as drags from lower auto and gasoline station sales are more than offset by a solid pickup in core sales figures.

Key Quotes

“Motor vehicle sales disappointed for the fifth straight month and eased to a 16.4m unit annual rate vs 16.6m in May, while another sizeable decline in gasoline prices suggests lower gasoline station sales receipts. Core sales – excluding food services, building materials and the above categories – are expected to partially offset these declines with a solid 0.4% increase. These projections would be consistent with Q2 real PCE near a healthy 3% pace.”