Global| Nov 20 2019E-Commerce Sales Strengthen
by:Tom Moeller
|in:Economy in Brief
Summary
The U.S. Commerce Department reported that during the third quarter of this year, retail sales via the internet (E-Commerce) increased 5.0% (SA) from Q2. The gain followed a revised 4.8% Q2 rise, and was the strongest quarterly [...]
The U.S. Commerce Department reported that during the third quarter of this year, retail sales via the internet (E-Commerce) increased 5.0% (SA) from Q2. The gain followed a revised 4.8% Q2 rise, and was the strongest quarterly increase since the fourth quarter of 2011.
E-Commerce sales increased 16.9% y/y, the strongest gain since Q4 2011.
This strength compares to a lesser 1.4% quarterly rise (4.0% y/y) in retail sales overall last quarter. As a result, E-Commerce sales rose to 11.2% of total retail sales, up from 9.9% in 2018 and 4.4% in 2010.
E-commerce sales are sales of goods and services where the buyer places an order, or the price and terms of the sale are negotiated over an Internet, mobile device (M-commerce), extranet, Electronic Data Interchange (EDI) network, electronic mail, or other comparable online system. Payment may or may not be made online. Estimates are adjusted for seasonal variation, but not for price changes. Total sales estimates are also adjusted for trading-day differences and moving holidays.
The retail sales and retail E-Commerce sales data can be found in Haver's USECON database.
The minutes to the latest FOMC meeting can be found here.
| Q3'19 | Q2'19 | Q1'19 | Q3'19 Y/Y | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|
| E-Commerce Sales | 5.0 | 4.8 | 4.0 | 16.9 | 13.5 | 16.0 | 14.6 |
| Total Retail Sales Purchase | 1.4 | 1.8 | 0.3 | 4.0 | 4.6 | 4.5 | 2.4 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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