Tag Archives: retail sales
The U.S. consumer entered the third quarter with some momentum, according to the latest report on retail sales. Total sales rose 0.6% in July over June, and are up 2.4% over one year ago. The revision to June, whose reading was originally in negative territory, was to the upside
Retail sales dropped 0.3% in June, as a drop in vehicle sales contributed to weakness across the board. The only categories to post major gains were electronics and appliance stores sales, gasoline station sales, and spending at discount stores. Moreover, sales for the previous month, which had been relatively robust, were revised down slightly. This [...]
Retail sales jumped 1.2% in May from April as hibernating consumers emerged from their caves. Vehicle sales fueled overall gains but were not as strong as we expected, given the near-record, 17.8 million-unit, annualized pace we saw for the month. Incentives were sweetened to drain dealer inventories. Some of the gains we saw also likely [...]
Retail sales jumped 0.9% in March, coming in only slightly below the consensus. Gains were driven by big-ticket spending on vehicles and furniture. Pent-up demand and damages created by unusually harsh winter storms helped to spur the rebound in spending. Building materials and garden stores reported higher sales as the temperatures rose and people emerged [...]
Retail sales fell a disappointing 0.6% in February. Snow days were worse in February than in January (particularly in the South and parts of the West that don’t usually have to deal with snow). The drop in retail sales was driven by a sharp decline in vehicle sales; that also happened last year
Retail sales dropped 0.8% in January, due in part to yet another sharp decline (9.3%) in gasoline station sales, as prices at the gas pump continued to plummet. Big-ticket spending on vehicles, furniture and appliances also slackened from the pace we saw in December.
Real GDP rose a smaller-than-expected 2.6% in the fourth quarter largely due to a surge in consumer spending, which was at least partially offset by a larger-than-expected increase in imports. (Imports subtract from overall GDP growth.) The gains in consumer spending reflect recent increases in employment, incomes and the drop in prices at the pump.
Retail sales fell almost one full percentage point in the month of December and were revised lower for the month of November. Falling prices at the gas pump, which pushed down sales another 6.5% during the month, and more than 14% from a year earlier, were the primary culprit. Losses, however, were broad-based with declines [...]
Retail sales surged 0.7% in November and were revised up for the month of October, which has become an important indicator for the holiday shopping season.
We expect payroll employment to rise by 205,000 in November, slightly less than the 222,000 average monthly gain for the 12 months leading up to October. Private payroll employment is expected to drop below the 200,000 threshold to 195,000 for the month.