Auto sales rebound to boost retail sales print for July - Wells Fargo
Wells Fargo is projecting US retail sales to be +0.6% m/m, with a bounce in auto sales and higher prices set to provide a sizable lift to the headline reading. But when excluding autos, the firm says "we look for the sales gain to be half as large ". That as "consumers have shown signs of spending fatigue recently as they've cut back on discretionary purchases".
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