In the US we expect headline retail sales to have slowed markedly in December to just 0.1% m/m from a solid 0.7% m/m mainly on the back of a substantial decline in auto sales. Excluding autos retail sales are expected to have gained a solid 0.5% m/m. The weak auto sales will probably be partly attributed to the bad weather that also appears to have weighed substantially on employment growth in December.
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Danske Bank