July retail sales beat expectations, while import prices, New York factory index rose

Retail Sales - July retail sales increased by 05% month-over-month, closely aligning with the expected 06% increase [2] - Excluding autos, retail sales still showed growth, increasing by 03%, as expected [3] - Core retail sales, or the control group, increased by a strong 05%, exceeding expectations [4] - Revisions to previous months' data show upward adjustments, with headline retail sales revised from 06% to 09%, and core retail sales revised from 05% to 08%, indicating solid growth [5] Import and Export Prices - Import prices increased by 04% month-over-month, exceeding expectations and marking the highest level since April 2024 [5][6] - Excluding petroleum, import prices still rose by 03% month-over-month, matching the high of April [6] - Year-over-year, import prices decreased by 02%, marking the third consecutive month of decline at that rate [7] - Export prices increased by 01% month-over-month and 22% year-over-year [7] - Revisions to import prices show a decrease of 01% month-over-month [8] Manufacturing and Interest Rates - Empire Manufacturing came in at a strong 119%, the second highest of the year outside of March [8] - Interest rates have slightly increased, with the 10-year Treasury yield moving from 429% to 430% [8]