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Lots of News

Dan North | May 2023

🛍 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. 

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