Recent Updates

  • *** Netherland's GDP Rebased to Chained 2015 Euros. We are Currently Working on Processing These Changes. **
  • Belgium: Business Survey (Jun)
  • Canada: CPI (May), Retail Trade (Apr)
  • Manufacturing Survey - Japan, Germany, France, Euro Area, US, (Flash - Jun); Composite & Services Survey - US (Flash - June)
  • Ireland: Producer & Wholesale Price Indexes (May)
  • Morocco: CPI (May)
  • France: GDP (Q1), Loans (Apr)
  • more updates...

Economy in Brief

U.S. Retail Sales Post Moderate Year-End Increase
by Tom Moeller  January 14, 2014

Retail spending increased 0.2% (4.1% y/y) during December after a 0.4% November gain, revised down from 0.7%. The latest increase matched expectations in the Action Economics survey. For all of last year retail sales increased 4.3%, the weakest increase of the economic recovery. A 1.8% reduction (+5.9% y/y) in sales of motor vehicles & parts held back the increase in overall December sales. Nonauto retail sales rose 0.7% (3.7% y/y) after a 0.1% November uptick. A 0.4% increase had been expected. Nonauto sales rose 3.4% during all of 2013, also the weakest gain of the recovery.

Higher sales of food & beverages led last month's sales with a 2.0% gain (4.2% y/y) following two months of slippage. Clothing & accessory sales increased 1.8% (5.2% y/y) after a 0.5% November dip and gasoline service station sales rose 1.6% (0.6% y/y), after two months of decline. Sales of nonstore retailers showed continued strength with a 1.4% jump (9.9% y/y) following a 1.6% November gain. Consumers remained inclined to eat out as food service sales rose 0.5% (4.6% y/y) following two months of even stronger increase. General merchandise store sales ticked up 0.1% (1.5% y/y) for the second consecutive month.

To the downside, electronics & appliance store sales plunged 2.5% (-1.4% y/y) following a like falloff in November. Furniture store sales dropped 0.4% (+4.5% y/y) after a 0.2% decline and building materials & garden equipment store sales slipped 0.4% (+2.1% y/y), down for the third month in the last five.

The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.

Employee Compensation Costs During the Recovery from the Federal Reserve Bank of Cleveland is available here.

Retail Spending (%) Dec Nov Oct Dec Y/Y 2013 2012 2011
Total Retail Sales & Food Services 0.2 0.4 0.5 4.1 4.3 5.3 7.5
  Excluding Autos 0.7 0.1 0.4 3.7 3.4 4.8 7.0
  Non-Auto Less Gasoline & Building Supplies 0.7 0.2 0.6 4.3 3.6 4.3 5.4
Retail Sales 0.2 0.3 0.4 4.0 4.3 5.1 7.7
  Motor Vehicle & Parts -1.8 1.9 1.0 5.9 8.8 7.5 10.1
 Retail Less Autos 0.8 -0.1 0.2 3.6 3.2 4.5 7.1
  Gasoline Stations 1.6 -1.5 -0.3 0.6 -0.7 4.1 18.4
Food Service & Drinking Places Sales 0.5 1.2 1.6 4.6 4.3 7.1 6.0
close
large image