🛍 Retail sales rose +0.4% m/m in April, led by e-tailing and general merchandise.
⛽ Gasoline sales fell along with prices, and sporting goods, hobby, book and music stores took a big dive.
🚗 On the industrial side of the economy, manufacturing industrial production rose a respectable 1.0% m/m in April. However, the gain was driven largely by a huge 9.3% m/m increase in auto production.
🏘 Existing home sales fell -3.4% m/m in April, but the bigger picture is much worse. Despite this, homebuilders are optimistic, as the National Association of Homebuilders Housing Marketing Index rose for the fifth straight month in May.
To read Dan's full report, click on the link below and download the PDF
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