Recent Updates
- US: Advance Retail Sales (Jul)
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Economy in Brief
U.S. Housing Starts Drop to 1.446 Mil. in July
Toal housing starts fell 9.6% m/m (-8.1% y/y) to a lower-than-expected 1.446 million...
U.S. Gasoline Prices Decline While the Cost of Crude Oil Rises
Retail gasoline prices fell to $3.94 per gallon (+24.1% y/y) last week...
ZEW Experts Still See Depressed Conditions and Harbor Weak Expectations
the current situation in the eyes of the ZEW experts strengthened in August in the U.S. and the U.K. but...
U.S. Home Builder Index Extends Downward Trend
The NAHB-Wells Fargo Composite Housing Market Index declined 10.9% during August (-34.7% y/y) to 49...
U.S. Empire State Manufacturing Index Plummets in August; Lowest Since May '20
The Empire State Manufacturing Index of General Business Conditions plunged to -31.3 in August...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller May 15, 2018
Total retail sales increased 0.3% (4.7% y/y) during April following a 0.8% March gain, revised from 0.6%. The rise matched expectations in the Action Economics Forecast Survey. Excluding motor vehicles and parts, retail sales improved 0.3% (4.8% y/y) after a 0.4% March gain, revised from 0.2%. A 0.5% increase had been expected.
Clothing & accessory store sales jumped 1.4% (4.1% y/y), rebounding after a 0.2% decline. Nonstore retailers posted a 0.6% rise (9.6% y/y) in sales after two monthly increases of roughly 1.0%. Furniture & home furnishing store sales increased 0.8% (6.1% y/y) after strengthening 1.4%. Electronics & appliance store sales eased, however, by 0.1% (+1.7% y/y) following a 0.7% gain. Building materials, and garden equipment store sales rose 0.4% (4.4% y/y) after a 1.4% decline. General merchandise store sales improved 0.3% (2.5% y/y) following a 0.4% rise. Sales of motor vehicles & parts ticked 0.1% higher (4.3% y/y) on the heels of a 2.1% rise. The increase compared to a 1.8% decline in unit vehicle sales reported earlier this month. To the downside were sporting goods, hobby, book & music store purchases which slipped 0.1% (-1.1% y/y), the fifth decline in six months.
Purchases at gasoline service stations increased 0.8% (11.7% y/y) as the pump price of gasoline rose 7.5% m/m.
Sales of nondiscretionary items were mixed last month. Health & personal care store sales fell 0.4% (-0.4% y/y) after a 1.1% jump. Food & beverage store sales improved 0.4% (3.4% y/y), the strongest rise in six months.
Individuals took a break from eating out last month. Food service & drinking establishment sales fell 0.3% (+3.8% y/y) after a 1.2% increase. It was the first meaningful decline since February of last year.
The retail sales data can be found in Haver's USECON database. The Action Economics forecast is in the AS1REPNA database.
Retail Spending (% chg) | Apr | Mar | Feb | Apr Y/Y | 2017 | 2016 | 2015 |
---|---|---|---|---|---|---|---|
Total Retail Sales & Food Services | 0.3 | 0.8 | 0.0 | 4.7 | 4.2 | 3.2 | 2.6 |
Excluding Autos | 0.3 | 0.4 | 0.4 | 4.8 | 4.2 | 3.0 | 1.4 |
Non-Auto Less Gasoline | 0.3 | 0.4 | 0.3 | 3.9 | 3.6 | 3.9 | 4.2 |
Retail Sales | 0.4 | 0.7 | -0.0 | 4.8 | 4.4 | 2.9 | 1.9 |
Motor Vehicle & Parts | 0.1 | 2.1 | -1.2 | 4.3 | 4.1 | 4.1 | 7.3 |
Retail Less Autos | 0.5 | 0.3 | 0.3 | 5.0 | 4.5 | 2.5 | 0.4 |
Gasoline Stations | 0.8 | 0.3 | 0.5 | 11.7 | 8.9 | -5.7 | -17.6 |
Food Service & Drinking Places Sales | -0.3 | 1.2 | 0.4 | 3.8 | 2.8 | 5.9 | 8.1 |