<a href="https://www.zerohedge.com/markets/prepare-big-retail-sales-beat"><em>"Prepare for a big beat"</em></a> was the message from BofA's sage-like forecasters for this morning's retail sales print....

And sure enough they were right as July retail sales rose 0.7% MoM (beating the 0.4% jump expected) -the best monthly jump since Jan

Under the hood, everything was green except

Non-store retailers soared - with some suggesting this was Amazon's Prime Day...

On a YoY basis, headline and core retail sales accelerated...

Finally, we note that the control group - which is used in the GDP calculation - soared 1.0% MoM (more than double the expected 0.4% MoM rise).

One last thing, all of this data is completely divergent from the collapse in retail sales seen by Redbook data...

Bear in mind that all of these numbers are nominal.

...the control group - which is used in calculating GDP - soared 1.0% MoM...
{ai:summary}<p>BofA predicted a strong increase in July retail sales, and they were correct. Sales rose 0.7% from the previous month, the largest increase since January. The only sectors that declined were motor vehicles and parts dealers, furniture and home furnishings, and electronics and appliance stores. Non-store retailers, possibly due to Amazon's Prime Day, experienced significant growth. The control group, which is used in GDP calculation, saw a 1.0% increase. It is worth noting that this data contradicts the decline in retail sales reported by Redbook. #economy</p>

US Retail Sales Soared In July As Non-Store Retailers Spending Spiked

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