Recent Updates
- US: Home Builders (Dec), Empire State Manufacturing Survey (Dec)
- Canada: Intl Transactions in Securities (Oct)
- Taiwan: Motor Vehicle Registration, RMB Business Statistic (Nov)
- Albania: Foreign Trade Prelim (Nov)
- Turkey: NCI Index (Dec)
- Finland: International Reserves (Nov)
- Sweden: Construction Cost Index (Nov)
- Norway: Internatioal Trade (Nov)
- Lebanon: Central Bank Balance Sheet (Dec-Prelim)
- more updates...
Economy in Brief
Empire State Manufacturing Sector Improvement Moderates
The Empire State Manufacturing Index of General Business Conditions declined to 10.9 in December...
EMU Trade Shows Some Trade Flow Rebound
Trade flows are rebounding on differing dynamics in the euro area...
U.S. Retail Sales Start Holiday Season on Solid Ground
Consumers continued to exhibit their inclination to spend as holiday shopping got underway...
U.S. Industrial Production Rebounds
Industrial production jumped a greater-than-expected 0.6% (3.9% year-on-year) during November...
U.S. Business Inventory Accumulation Picks Up
Total business inventories increased 0.6% (5.1% y/y) during October...
by Robert Brusca October 11, 2007
While auto sales have revived in August, the rest of retail sales remain lethargic.In real terms retail sales excluding auto sales fell by 1.6% in August. For the third quarter, sales are off to a weak start as nominal retail sales excluding autos are off at a 0.9% rate; real retail sales excluding autos are off at a 1% annual rate. Food and tobacco plus clothing and footwear categories are off sharply in the new quarter as well. But auto and parts sales are up at a strong 25% annual rate. Since The German VAT was hiked in January retail sales are still hampered.
| German Real and Nominal Retail Sales | New QTR | |||||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Aug-07 | Jul-07 | Jun-07 | 3-MO | 6-MO | 12-MO | YrAgo | SAAR |
| Retail Ex auto | -1.4% | 0.7% | 1.4% | 3.0% | -0.9% | -2.1% | 7.0% | -0.9% |
| MV and Parts | 3.6% | 0.9% | 0.0% | 19.1% | 26.3% | -0.4% | 17.5% | 25.6% |
| Food Bev & Tobacco | -1.2% | -0.1% | 0.8% | -1.8% | -1.8% | -1.3% | 5.1% | -5.4% |
| Clothing footwear | -0.2% | 0.2% | 5.5% | 23.8% | -1.9% | -3.4% | 11.8% | -3.8% |
| Real | ||||||||
| Retail Ex auto | -1.6% | 0.7% | 1.4% | 2.3% | -1.3% | -3.0% | 6.5% | -1.0% |
