US July retail sales -0.6% vs +0.1% expected

Prior was +0.2% Ex autos -0.3% vs +0.2% exp Ex gas and autos -0.2% vs +0.4% prior Retail control -0.4% vs +0.3% exp Retail sales y/y nominal 5.01% vs +6.72% prior The thinking is that the US consumer will continue spend so long as the jobs market holds up but this report dents that view. I’d caution that it’s…

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Canada Manufacturing Sales for June +0.1% vs -0.1% estimate

Prior month +1.3% Manufacturing Sales +0.1% versus -0.1% estimate Details: Manufacturing sales: +0.1% m/m to $78.8 billion, the fifth consecutive monthly increase. Year over year: Sales were +14.5%. Excluding petroleum & coal: Sales increased a much stronger 2.6% m/m. Constant-dollar sales: +1.2%, suggesting underlying volumes were firmer than the headline nominal increase. Subsector highlights Chemicals: +6.0% to $6.3 billion,…

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