Another month of soft retail spending
Retail sales probably declined in JuneTotal card spending per household (HH), as measured by BAC aggregated credit and debit cards, was down 0.5% year-over-year (y/y) in June. Card spending per HH was
应用介绍
Retail sales probably declined in June
Total card spending per household (HH), as measured by BAC aggregated credit and
debit cards, was down 0.5% year-over-year (y/y) in June. Card spending per HH was
down 0.1% month-over-month (m/m) in June on a seasonally adjusted (SA) basis. We
forecast a 0.2% decrease in the Census Bureau’s retail sales ex-autos estimate for June
(Exhibit 1). We think the core control group (retail sales ex autos, gas, building materials
and restaurants) should come in flat on the month.
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