United States: Retail sales growth moderates in July
Latest reading: Retail sales grew 0.5% month-on-month in seasonally adjusted terms in July (June: +0.9% mom), in line with market expectations. The biggest sales gains came from motor vehicle and parts dealers and furniture stores, with smaller increases at sporting goods, non-store, clothing and gas stations. Declines were seen at miscellaneous retailers, building materials and electronics stores.
On an annual basis, retail sales rose at a softer pace of 3.9% in July (June: +4.4% yoy).