US retail sales rose 0.5% mom in July to USD 726.3B, in line with expectations, suggesting consumer spending momentum remains intact.
Excluding autos, sales rose 0.3% mom, also matching forecasts, while ex-gasoline sales climbed 0.5% mom. The narrower measure excluding both autos and gasoline advanced 0.2% mom.
Over the May–July period, total sales were 3.9% higher than a year ago, pointing to steady year-on-year growth despite elevated price pressures.
Separately, import prices rose 0.4% mom in July, beating expectations for no change. The gain hints at renewed external price pressures, which may partly reflect higher energy prices, but could also be linked to currency movements and tariffs.
Meanwhile, Empire State Manufacturing Index surprised sharply to the upside, jumping from 5.5 in July to 11.9 in August, far exceeding the expected -1.
