Global| Jan 13 2006U.S. Retail Sales Light in December
by:Tom Moeller
|in:Economy in Brief
Summary
US retail sales rose 0.7% last month following an upwardly revised 0.8% increase in November. The increase, however, fell short of Consensus expectations for a 0.9% rise. In addition, sales less autos rose just half the expected 0.4% [...]
US retail sales rose 0.7% last month following an upwardly revised 0.8% increase in November. The increase, however, fell short of Consensus expectations for a 0.9% rise. In addition, sales less autos rose just half the expected 0.4% and the m/m decline in November was revised slightly deeper.
Discretionary spending faltered. Apparel store sales fell marginally after a downwardly revised 0.1% November decline (+7.1% y/y). General merchandise store sales also fell by 0.3% (+5.1% y/y) while sales of furniture, electronics & appliances were off 0.1% (+6.3% Y/Y). Sales at building material & supply dealers declined 0.6% (+9.7% y/y).
Sales at gasoline stations increased 0.9% despite a 3.2% decline in pump prices. Gas prices in January have reversed that decline and moved higher by 4.4% versus December.
Less gasoline, nonauto retail sales rose 0.1% (6.8% y/y), the weakest increase by far since July.
Sales of nonstore retailers (internet & catalogue) rose 0.5% (10.6% y/y) after an upwardly revised 0.4% increase during November.
| Dec | Nov | Y/Y | 2005 | 2004 | 2003 | |
|---|---|---|---|---|---|---|
| Retail Sales & Food Services | 0.7% | 0.8% | 6.4% | 7.6% | 7.3% | 4.3% |
| Excluding Autos | 0.2% | -0.4% | 8.0% | 8.6% | 8.2% | 4.7% |
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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