Recent Updates
- China: Social Financing Stock & Flow Final (May); Korea: Import & Export Price Indexes, Home Sales (May); Philippines: Auto Sales (May); Thailand: Tourist Arrivals (May)
- Australia: Residential Property Price Indexes (Q1)
- Spain: *SPAIN SPPI REBASED FROM 2010=100 TO 2015=100
- Spain: Services Price Indexes (Q1)
- Germany: State CPI: Saxony-Anhalt (May-Press)
- UK: LSL ACAD House Price Indexes, Visa Expenditure Index (May)
- more updates...
Economy in Brief
Japan's Loses Its Trade Surplus
In May, Japan has logged its second trade deficit in 13 months and only its third in the last 28 months...
U.S. Industrial Production Slips Unexpectedly
The Federal Reserve reported that industrial production eased 0.1% (+3.5% y/y) during May...
Empire State Manufacturing Index Continues to Strengthen
The Empire State Manufacturing Index of General Business Conditions rose to 25.0 during June, the highest level in eight months...
EMU Trade Deficit Shrinks
The EMU trade balance shrank in April, stepping back to a surplus of 18.1 bln euros from 19.8 bln euros in March....
U.S. Retail Sales Strengthen
Consumers were in a shopping mood last month...
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% |
