Global| Aug 13 2014U.S. Retail Sales Remain Unchanged After Five Months of Increase
by:Tom Moeller
|in:Economy in Brief
Summary
Retail and food service sales were unchanged (3.7% y/y) during July following an unrevised 0.2% June rise. A 0.3% increase had been expected in the Action Economics Forecast Survey. Fewer sales of motor vehicles & parts limited last [...]
Retail and food service sales were unchanged (3.7% y/y) during July following an unrevised 0.2% June rise. A 0.3% increase had been expected in the Action Economics Forecast Survey. Fewer sales of motor vehicles & parts limited last month's result as they declined 0.2% (+6.0% y/y) following a 0.3% drop. Nonauto sales ticked 0.1% higher (3.6% y/y), disappointing expectations for a 0.4% rise.
Sales were lackluster in other discretionary spending categories. General merchandise store sales fell 0.5% (+1.1% y/y) following a 0.4% gain. Sales of furniture & appliances slipped 0.1% (+1.9% y/y), weak for the fourth straight month and sales of nonstore retailers edged 0.1% lower (+5.9% y/y) after a 0.6% rise. Better results occurred at clothing & accessory stores where sales improved 0.4% (1.6% y/y) after a 0.2% rise. Also, sales of building materials & garden equipment increased 0.2% (5.1% y/y) following strong gains during the prior four months. Sporting goods store sales rose 0.2% (-2.3% y/y) after a 0.7% rise while restaurant sales improved 0.2% (6.2% y/y), repeating June's improvement.
In the nondiscretionary spending categories, sales at health & personal care stores gained 0.4% (7.3% y/y) after a 1.0% jump. Food & beverage stores increased 0.3% (3.1% y/y) following a 0.9% rise while gasoline service station sales ticked 0.1% higher (-1.2% y/y) after a 0.8% drop.
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.
| Retail Spending (%) | Jul | Jun | May | Jul Y/Y | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|
| Total Retail Sales & Food Services | 0.0 | 0.2 | 0.4 | 3.7 | 4.2 | 5.1 | 7.5 |
| Excluding Autos | 0.1 | 0.4 | 0.4 | 3.1 | 3.0 | 4.2 | 6.9 |
| Non-Auto Less Gasoline & Building Supplies | 0.1 | 0.5 | 0.2 | 3.6 | 3.3 | 4.0 | 5.4 |
| Retail Sales | 0.0 | 0.2 | 0.4 | 3.4 | 4.3 | 5.0 | 7.6 |
| Motor Vehicle & Parts | -0.2 | -0.3 | 0.7 | 6.0 | 9.3 | 9.1 | 9.9 |
| Retail Less Autos | 0.1 | 0.4 | 0.3 | 2.7 | 3.0 | 4.0 | 7.1 |
| Gasoline Stations | 0.1 | -0.8 | 0.5 | -1.2 | -0.4 | 4.2 | 18.3 |
| Food Service & Drinking Places Sales | 0.2 | 0.2 | 1.1 | 6.2 | 3.0 | 5.9 | 6.0 |
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.
