Retail sales for the month of May were released earlier this morning and at the headline level came in higher than expected for the second straight month, rising by 0.5% vs. consensus expectations for growth of 0.3%. Ex Autos and Ex Autos and Gas, the report was not as strong as the headline, but still managed to match expectations. On a two-month basis, now, retail sales have risen by 1.73%, which is the strongest two-month growth rate since April 2014.
In a B.I.G. Tips report just sent to Bespoke Premium and Bespoke Institutional members, we went into detail on this month’s report highlighting which areas of the sector were showing strength and which were weak.
See the full B.I.G. Tips report by signing up for a monthly Bespoke Premium membership now. Click this link for a 10% discount ($89/month).