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Forex News: US Retail Sales come in at -0.2% and +0.5% ex auto

Posted by Greg Michalowski on Tue, 05/13/2008 - 7:33am in

The ex Auto is stronger than expected.  Revisions show unchanged from +0.2% and +0.4% from +0.1% originally reported.

The report showed strength in housing-related areas.  Building Materials jumped 1.9 percent Restaurant sales also improved by 0.9 percent, the most this year.

The "retail group" that the government uses to calculate gross domestic product showed a rise of 0.4 percent, matching March's gain.  This calculation excluding autos, gasoline and building materials.  The government uses data from other sources to calculate the contribution from the three categories excluded.

This is an fairly ok report and should keep the Fed on hold to watch other data.

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