After declining for two straight months, US Retail Sales in July rebounded dramatically to a 0.6% MoM gain - the most since Dec 2016 - driven a surge in motor vehicles (record incentives) and department stores (more inventives?). Year-over-year saw upward revisions and a rebound to a 4.2% rise in July.
The last two month's declines in Retail Sales have been revised away magically and we have now gone 5 months without a decline...
Everything rose except clothing stores (-0.2%), electronics and appliance stores (-0.5%) and gasoline stations (-0.4%)
How sustainbale is this? Record automaker incentives and a desperate 'retailer'/department store business slashing prices to maintain some revenues?