Recent Updates
- US: Employment Situation (Feb), Intl Trade (Jan)
- US: Establishment Survey Detail (Feb)
- US: Household Survey Detail (Feb)
- Canada: International Trade (Jan), Ivey PMI (Feb)
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Economy in Brief
U.S. Consumer Credit Outstanding Declines in January
Consumers reduced credit balances further in January...
U.S. Trade Deficit Widens to $68.2 Billion in January
The U.S. trade deficit in goods and services widened to $68.2 billion in January...
German Order Growth Gets Back in Gear Despite the Headwinds
German order growth is back in gear with total orders rising by 1.4% m/m in January...
U.S. Factory Orders & Shipments Rise Again in January
Manufacturing activity is strengthening. Factory orders rose 2.6% (2.8% y/y) in January...
U.S. Initial Unemployment Insurance Claims Rise Just 9,000
Initial claims for unemployment insurance rose modestly by 9,000 to 745,000 in the week ended February 27...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller December 13, 2005
US retail sales increased 0.3% for the third straight month in November. The increase about matched Consensus expectations for a 0.4% rise and October's gain was upwardly revised. Less autos, retail sales fell 0.3% versus expectations for no change.
A 16.9% drop in pump prices weighed heavily on last month's sales tally and it fostered a 5.9% m/m drop in sales at gasoline service stations. Gas prices in December have stabilized w/w around $2.17 per gallon, down a dime from the November average.
Less gasoline, nonauto retail sales rose 0.5% (7.6% y/y) following a little revised 1.0% October gains. For the fourth straight month sales at building material & supply dealers ballooned, last month by 1.9% (14.5% y/y).
Discretionary spending continued firm and added marginally to strong October gains. Apparel store sales added 0.2% (7.3% y/y) to a 2.6% pop and general merchandise store sales rose 0.1% (6.7% y/y) on top of a strong 1.1% October increase.
A little less firm were sales at furniture & electronics stores which rose just 0.1% (6.6% y/y) following a 0.3% drop in October. Sales of nonstore retailers (internet & catalogue) also fell by 0.2% (10.3% y/y) after a 0.8% October increase.
Nov | Oct | Y/Y | 2004 | 2003 | 2002 | |
---|---|---|---|---|---|---|
Retail Sales & Food Services | 0.3% | 0.3% | 6.3% | 7.3% | 4.3% | 2.5% |
Excluding Autos | -0.3% | 0.8% | 8.7% | 8.2% | 4.7% | 3.3% |