Global| Nov 20 2013U.S. Retail Sales Gain As Auto and Restaurant Purchases Advance
by:Tom Moeller
|in:Economy in Brief
Summary
Retail sales improved last month as consumers bought cars and dined out. Retail spending firmed 0.4% (3.9% y/y) during October following no change in September, revised from a 0.1% dip. A 0.1% uptick had been expected in the Action [...]
Retail sales improved last month as consumers bought cars and dined out. Retail spending firmed 0.4% (3.9% y/y) during October following no change in September, revised from a 0.1% dip. A 0.1% uptick had been expected in the Action Economics Forecast Survey. Sales of motor vehicles & parts led the rise with a 1.3% gain (10.6% y/y). Sales at food service & drinking places followed with a 1.0% increase (3.9% y/y). Retail sales excluding autos rose 0.2% (2.4% y/y) after a 0.3% September gain. A 0.1% uptick had been expected.
Furniture and electronics store sales rose 1.2% (6.2% y/y) on the heels of a 0.7% rise. Sales of electronics & appliance retailers jumped 1.4% (4.8% y/y) while furniture purchases rose 1.0% (7.7% y/y). Clothing store sales also gained 1.4% (3.8% y/y) after two months of decline while sales at general merchandise retailers inched up 0.2% (0.7% y/y). Sales of nonstore retailers gained 0.4% (8.2% y/y) but sales of building materials and garden equipment dropped 1.9% (+4.2% y/y), the third month of decline in the last four. Gasoline station sales fell 0.6% (-6.9% y/y) with lower prices and food & beverage retailers sales were unchanged (2.7% y/y).
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNAdatabase.
Communication and Monetary Policy is the title of Fed Chairman Ben S. Bernanke's speech and it can be found here.
| Retail Spending (%) | Oct | Sep | Aug | Oct Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total Retail Sales & Food Services | 0.4 | 0.0 | 0.2 | 3.9 | 5.3 | 7.5 | 5.5 |
| Excluding Autos | 0.2 | 0.3 | 0.0 | 2.4 | 4.8 | 7.0 | 4.5 |
| Non-Auto Less Gasoline & Building Supplies | 0.4 | 0.3 | 0.2 | 3.8 | 4.3 | 5.4 | 3.5 |
| Retail Sales | 0.3 | -0.0 | 0.2 | 3.9 | 5.0 | 7.7 | 5.8 |
| Motor Vehicle & Parts | 1.3 | -1.2 | 1.0 | 10.6 | 7.5 | 10.1 | 10.6 |
| Retail Less Autos | 0.1 | 0.3 | -0.0 | 2.2 | 4.4 | 7.1 | 4.6 |
| Gasoline Stations | -0.6 | 0.2 | -0.5 | -6.9 | 4.0 | 18.4 | 14.6 |
| Food Service & Drinking Places Sales | 1.0 | 0.2 | 0.2 | 3.9 | 7.2 | 6.0 | 3.2 |
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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