US retail sales dropped -0.7% mom to USD 540.9B in December, much worse than expectation of 0.0% mom rise. Ex-auto sales dropped -1.4% mom, well below expectation of -0.1% mom. Ex-gasoline sales dropped -1.2% mom. Ex-auto, ex-gasoline sales dropped -2.1% mom.
PPI came in at 0.3% mom, 1.8% yoy, matched expectation. Core PPI was at 0.1% mom, 1.2% yoy, below expectation of 0.2% mom, 1.3% yoy.
Empire State general business condition index was dropped to 3.5, below expectation of 5.7.
