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IPFS News Link • Business/ Commerce

'Gonna Need More Stimmies' - US Retail Sales Plunged In May

• by Tyler Durden

Given the expected impact of autos from the chip shortage, a "cleaner" number of the Ex-Autos print which was also a disaster, tumbling 0.7% MoM (much worse than the 0.4% improvement expected)

Source: Bloomberg

BofA's forecasts nailed it again:

BofA said retail headline -1.4%, came in at -1.4%

BofA said retail ex auto -0.6%, came in at -0.7%

Building Materials saw the biggest drop, along with Motor Vehicles (as noted above). Nonstore retailers (online) also saw a decline in sales...