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Ex-autos +0.5% vs +0.3% expPrior ex autos +0.3% (revised to +0.7%)Control group +0.4% vs +0.6% expectedPrior control +1.0% (revised to +1.3%)This is a good set of headlines and the upward revisions nullify the slight miss on the control group. Never underestimate the spending power of the US consumer.
Fed pricing for the year ahead before the data was -102 bps and is unmoved in the immediate aftermath.
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