Recent Updates
- Israel: Average Housing Prices (Q2)
- Japan: NCI Economic Activity Index (Aug)
- US: NAHB/Wells Fargo Housing Market Index (Aug)
- Canada: Wholesale trade, MSIO (June)
- Pakistan: Foreign Currency Deposits and Utilization (JUL)
- more updates...
Economy in Brief
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
U.S. Import and Export Prices Fall in July; Deepest Since April 2020
Import prices fell 1.4% m/m (8.8% y/y) in July...
U.S. Housing Affordability Declines Further in June
The NAR Fixed Rate Mortgage Housing Affordability Index fell 3.6% in June...
EMU Output Makes Solid Gain in June
The European Monetary Union posted a 0.7% increase for industrial output in June...
U.S. Producer Prices Fall During July; Core Increase Weakens
The Producer Price Index for Final Demand fell 0.5% during July...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller May 12, 2005
US retail sales jumped 1.4% last month following an upwardly revised 0.4% gain in March. Consensus expectations had been for a 0.7% April increase.
Excluding motor vehicles sales rose 1.1%, also twice the Consensus expectation.That followed a 0.2% March gain revised up slightly from the initial estimate of 0.1%. Nonauto retail sales less gasoline in April rose 1.0% (6.8% y/y) following a slight decline in March. Gasoline service station sales surged 1.9% (19.8% y/y).
A 1.2% (7.4% y/y) rise in building material store sales led last month's rise in spending, for the second month.
Spending on discretionary items was mixed. General merchandise store sales surged 1.5% (7.4% y/y) after falling 0.7% in March and apparel store sales recovered 2.8% (7.9% y/y) following the prior month's 2.2% decline. Furniture and electronics sales, however, fell slightly (+4.1% y/y) for the second consecutive month.
Sales of nonstore retailers (internet and catalogue) rose 0.4% (12.4% y/y) following a 1.8% March jump.
April | March | Y/Y | 2004 | 2003 | 2002 | |
---|---|---|---|---|---|---|
Retail Sales & Food Services | 1.4% | 0.4% | 8.6% | 7.3% | 4.3% | 2.5% |
Excluding Autos | 1.1% | 0.2% | 8.1% | 8.3% | 4.7% | 3.3% |