- Prior -2.7%; revised to -2.8%
- Retail sales +1.7% vs +1.8% y/y expected
- Prior -1.3%; revised to -1.1%
- Retail sales ex autos, fuel +0.6% vs +1.2% m/m expected
- Prior -2.8%; revised to -2.9%
- Retail sales ex autos, fuel +1.8% vs +2.0% y/y expected
- Prior -1.3%; revised to -1.2%
The readings are a miss on estimates but at least reaffirms a rebound after a very weak May showing. The details show broad increases in sales volumes, led by food store sales as retailers noted that the warm weather has had a positive effect. Non-store retailer's sales volumes, which mainly includes online retailers, rose by 1.7% - the highest since February 2022. Retailers suggested that promotions and the good weather contributed.
All in all, it's a positive showing after a very poor one in the month before. In that lieu, it isn't good to change things with regards to the BOE outlook.
