Global| Jan 16 2020U.S. Retail Sales Increase Steadily
by:Tom Moeller
|in:Economy in Brief
Summary
Total retail sales including food service establishments increased 0.3% (5.8% y/y) during December following a 0.3% November gain, revised from 0.2%. The increase matched expectations in the Action Economics Forecast Survey. Retail [...]
Total retail sales including food service establishments increased 0.3% (5.8% y/y) during December following a 0.3% November gain, revised from 0.2%. The increase matched expectations in the Action Economics Forecast Survey. Retail sales excluding motor vehicles & parts rebounded 0.7% (6.3% y/y) last month after little change in November. Expectations had been for a 0.5% improvement.
Retail sales alone rose 0.4% (6.0% y/y) in December for the third straight month. A 1.3% decline (+4.1% y/y) in motor vehicles purchases held back the rise in total retail sales. The decline compared to a 1.9% drop in unit vehicle sales. Offsetting this decline was a 1.6% gain (0.1% y/y) in apparel sales and a 0.6% rise (2.2% y/y) in general merchandise store sales. Electronics & appliance store sales also rose 0.6% (-0.7% y/y) and furniture & home furnishings store sales edged 0.1% higher (3.2% y/y). Sales of nonstore retailers rose 0.2% (19.2% y/y) and sporting goods & hobby shop store sales gained 0.9% (1.8% y/y).
Gasoline & service station sales increased 2.8% (11.3% y/y) as seasonally adjusted gasoline prices rose.
In the nondiscretionary sales categories, food & grocery store sales gained 0.4% (3.7% y/y) for a second month. Sales of health & personal care product stores also rose 0.4% (+3.8% y/y).
Restaurant sales increased 0.2% (4.9% y/y) following a 0.6% decline.
The retail sales data can be found in Haver's USECON database. The Action Economics forecast is in the AS1REPNA database.
| Retail Spending (% chg) | Dec | Nov | Oct | Dec Y/Y | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|
| Total Retail Sales & Food Services | 0.3 | 0.3 | 0.3 | 5.8 | 3.6 | 4.8 | 4.2 |
| Excluding Autos | 0.7 | -0.0 | 0.2 | 6.3 | 3.4 | 5.5 | 5.0 |
| Retail Sales | 0.4 | 0.4 | 0.4 | 6.0 | 3.5 | 4.6 | 4.5 |
| Retail Less Autos | 0.8 | 0.1 | 0.2 | 6.5 | 3.3 | 5.3 | 4.8 |
| Motor Vehicle & Parts | -1.3 | 1.5 | 1.1 | 4.1 | 4.0 | 2.3 | 3.4 |
| Gasoline Service Stations | 2.8 | 1.0 | 2.0 | 11.3 | 0.5 | 12.6 | 8.9 |
| Food Service & Drinking Places Sales | 0.2 | -0.6 | -0.1 | 4.9 | 4.3 | 6.3 | 5.9 |
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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