Recent Updates
- US: Consumer Sentiment (Aug-prelim), Import/Export Prices (Jul)
- US: Consumer Sentiment Detail (Aug-prelim)
- US: Vehicle Miles Driven by State (Jun)
- Bulgaria: Agricultural PPI (Q2) Central Bank Survey (Jul)
- Blue Chip: Blue Chip Economic Indicators (Aug)
- more updates...
Economy in Brief
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...
U.S. Unemployment Claims Continue on an Uptrend
Initial claims for unemployment insurance filed in the week ended August 6 rose 14,000 to 262,000...
RICS Survey Points to More U.K. Housing Sector Weakness
The survey of housing market conditions in the U.K. continues to show strength in prices versus weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller November 14 2007
U.S. retail sales last month rose 0.2% after the 0.7% September increase which revised up slightly. The gain matched expectations and the prior month's 0.7% was revised up slightly.
Excluding autos, sales rose 0.2% and the prior month's gain of 0.4% was revised down slightly to 0.3%. A 0.3% October increase had been expected.
Nonauto retail sales less gasoline ticked up just 0.1% (3.9% y/y) after an unrevised 0.2% rise in September. The 0.1% decline during August was revised down to a 0.5% drop.
Sales of discretionary items were generally weak last month. Furniture, home furnishings & appliance stores sales fell 0.4% (0.8% y/y) and the prior month's gain was revised down to a 0.8% decline. Sales have declined in four of the last five months. Sales at general merchandise stores fell 0.1% (+3.6 y/y). Apparel store sales rose 0.1% (4.4% y/y) but the prior month's decline was revised up to a 0.1% increase.
Building material sales rose a firm 0.6% (1.3% y/y) though the prior month's gain of 0.8% was revised down to a 0.4% decline.
Sales of nonstore retailers (internet & catalogue) fell 1.0% (5.9% y/y) after a little revised 0.9% September increase.
Motor vehicle & parts purchases rose 0.2% (5.0% y/y) but unit sales of light vehicles fell 1.1% m/m in October.
Gasoline service station sales rose 0.8% after the 1.8% September gain. Higher gas prices should lift this month's increase.
The recent Treasury Dept. study of Income Mobility is available here.
October | September | Y/Y | 2006 | 2005 | 2004 | |
---|---|---|---|---|---|---|
Retail Sales & Food Services | 0.2% | 0.7% | 5.2% | 6.2% | 6.6% | 6.1% |
Excluding Autos | 0.2% | 0.3% | 5.2% | 7.3% | 7.6% | 7.1% |