02:50 PM EDT, 08/15/2025 (MT Newswires) -- Retail sales rose by 0.5% in July and were up 0.3% excluding a 1.6% gain in auto sales, both slower than in the previous month.

A 0.4% decline in food services sales, a 0.6% decline in electronics sales, and a 1% decline in building materials sales were offset by sales gains at gasoline stations, nonstore retailers and department stores and for apparel and sporting goods.

Control group retail sales, which exclude motor vehicles, gas, building materials, and food services, rose by 0.5% after a 0.8% gain in June.

Import prices rose by 0.4% in July after a 0.1% decline in June and were still up 0.3% excluding a 2.7% gain in fuel prices.

Export prices rose by 0.1% in July and were still up 0.1% excluding a flat reading for agricultural prices.

July industrial production fell by 0.1% after a 0.4% gain in June, with manufacturing production flat overall and excluding a 0.3% decline in motor vehicle and parts production.

Utilities output fell by 0.2% on a decline in electricity production that was offset by an increase in natural gas production. Mining production fell by 0.4%.

The Empire State index rose to 11.9 in August from 5.5 in July, indicating faster expansion in the regional manufacturing sector. Other factory data will be released in the coming weeks.

The preliminary Michigan Sentiment index fell to 58.6 in August from 61.7 in July.

According to Michigan, consumers' assessment of current conditions and the near-term outlook both declined. Michigan said that inflation expectations rose in August after declining over the last few months.

Business inventories rose by 0.2% in June, as expected and followed a flat reading in May. Business sales rose by 0.5%, with gains at the factory, wholesale, and retail levels.

The Q3 GDPnow estimate from the Atlanta Fed is for a 2.5% gain, unrevised from the previous estimate on Aug. 7. The next update is scheduled for Aug. 19.

The initial Q3 GDPnow estimate from the St. Louis Fed is for a 0.3% decline.