US retail sales rose sharply by 5.3% mom to USD 568.2B in January, above expectation of 1.1% mom. Ex-auto sales rose 5.9% mom, higher than expectation of 0.9% mom. Ex-gasoline sales rose 5.4% mom. Ex-auto, ex-gasoline sales rose 6.1% mom.
Also released, PPI rose 1.3% mom, 1.7% yoy in January, above expectation of 0.4% mom, 0.9% yoy. PPI core rose 1.2% mom, 2.0% yoy, above expectation of 1.2% mom, 1.2% mom.
