Given the expected impact of autos from the chip shortage, a "cleaner" number of the Ex-Autos print which was also a disaster, tumbling 0.7% MoM (much worse than the 0.4% improvement expected)
BofA's forecasts nailed it again:
BofA said retail headline -1.4%, came in at -1.4%
BofA said retail ex auto -0.6%, came in at -0.7%
Building Materials saw the biggest drop, along with Motor Vehicles (as noted above). Nonstore retailers (online) also saw a decline in sales...