Recent Updates

  • France: **France Wages and Earnings Rebased to Q2-2017=100**
  • Flash PMIs: Japan, France, Germany, Euro Area, US (Sep)
  • Canada: CPI (Aug), Retail Trade (Jul)
  • Canada Regional: CPI by Province (Aug), Retail Trade by Province (Jul)
  • Norway: International Reserves (Aug), Government Debt (Q2); Finland: Quarterly Sector Accounts, Government Balance (Q2); Denmark: Property Price Indexes (Q2); Iceland: Wage Index (Aug)
  • Turkey: IIP & Intl Reserves (Jul); South Africa: Retail Survey (Q4); Mauritius: PPI (Jun); Lebanon: CPI (Aug)
  • more updates...

Economy in Brief

U.S. Retail Sales Light in December 
by Tom Moeller January 13, 2006

US retail sales rose 0.7% last month following an upwardly revised 0.8% increase in November. The increase, however, fell short of Consensus expectations for a 0.9% rise. In addition, sales less autos rose just half the expected 0.4% and the m/m decline in November was revised slightly deeper.

Discretionary spending faltered. Apparel store sales fell marginally after a downwardly revised 0.1% November decline (+7.1% y/y). General merchandise store sales also fell by 0.3% (+5.1% y/y) while sales of furniture, electronics & appliances were off 0.1% (+6.3% Y/Y). Sales at building material & supply dealers declined 0.6% (+9.7% y/y).

Sales at gasoline stations increased 0.9% despite a 3.2% decline in pump prices. Gas prices in January have reversed that decline and moved higher by 4.4% versus December.

Less gasoline, nonauto retail sales rose 0.1% (6.8% y/y), the weakest increase by far since July.

Sales of nonstore retailers (internet & catalogue) rose 0.5% (10.6% y/y) after an upwardly revised 0.4% increase during November.

  Dec Nov Y/Y 2005 2004 2003
Retail Sales & Food Services 0.7% 0.8% 6.4% 7.6% 7.3% 4.3%
  Excluding Autos 0.2% -0.4% 8.0% 8.6% 8.2% 4.7%
close
large image