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

zerohedge2021-06-15

With a lack of stimmies to keep the spending dream alive, analysts expected a 0.8% MoM plunge in retail sales (confirming BofA's recent perfect streak of predictions), but the data was even worse, tumbling 1.3% MoM...

Source: Bloomberg

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...

As the base effect wears off so the insane YoY comps ease back too...

Source: Bloomberg

Finally, we note that retail inventories (supply) has reached a record low relative to retail sales (demand)...

Source: Bloomberg

How will The Fed interpret this? Transitory supply distress?

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Comment42

  • CCKK
    ·2021-06-16
    Not a good sign! Sad!
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  • thatsy
    ·2021-06-16
    Helicopter money!!! 
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  • Ronchan
    ·2021-06-16
    Maybe this will cool off the inflation figures….
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    • Rayvchel
      [Smile]
      2021-06-17
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  • Dewei
    ·2021-06-16
    Nice 
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  • 求老师指点
    ·2021-06-16
    Like 
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  • Hoeyin
    ·2021-06-16
    ??
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  • Suh
    ·2021-06-15
    oh no! seems like bad news
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  • Wes1128
    ·2021-06-15
    No 
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  • Chiashy
    ·2021-06-15
    ?
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  • skyel
    ·2021-06-15
    Correction coming? 
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  • CWei92
    ·2021-06-15
    like and comment please
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    • azotest
      Okay
      2021-06-15
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    • skyel
      Done
      2021-06-15
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  • WarSlasher
    ·2021-06-15
    yes
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  • Vin309
    ·2021-06-15
    Pls like and comment
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    • coffeejava
      thx.. [龇牙]
      2021-06-15
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  • dannynggg
    ·2021-06-15
    Like and comment thanks
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    • dannynggg
      thanks
      2021-06-15
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    • Vin309
      Ok hlp
      2021-06-15
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  • Weiying
    ·2021-06-15
    ??
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  • Megaverse
    ·2021-06-15
    Okok
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  • Ashie7312
    ·2021-06-15
    A
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  • Ahbear
    ·2021-06-15
    Sad
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  • Chengrent
    ·2021-06-15
    Nice
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    • Megaverse
      Ok
      2021-06-15
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    • TerenceTan
      comment and like
      2021-06-15
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  • Casey7880
    ·2021-06-15
    Okay
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