Global| May 15 2018U.S. Retail Sales Rise Moderately
by:Tom Moeller
|in:Economy in Brief
Summary
Total retail sales increased 0.3% (4.7% y/y) during April following a 0.8% March gain, revised from 0.6%. The rise matched expectations in the Action Economics Forecast Survey. Excluding motor vehicles and parts, retail sales improved [...]
Total retail sales increased 0.3% (4.7% y/y) during April following a 0.8% March gain, revised from 0.6%. The rise matched expectations in the Action Economics Forecast Survey. Excluding motor vehicles and parts, retail sales improved 0.3% (4.8% y/y) after a 0.4% March gain, revised from 0.2%. A 0.5% increase had been expected.
Clothing & accessory store sales jumped 1.4% (4.1% y/y), rebounding after a 0.2% decline. Nonstore retailers posted a 0.6% rise (9.6% y/y) in sales after two monthly increases of roughly 1.0%. Furniture & home furnishing store sales increased 0.8% (6.1% y/y) after strengthening 1.4%. Electronics & appliance store sales eased, however, by 0.1% (+1.7% y/y) following a 0.7% gain. Building materials, and garden equipment store sales rose 0.4% (4.4% y/y) after a 1.4% decline. General merchandise store sales improved 0.3% (2.5% y/y) following a 0.4% rise. Sales of motor vehicles & parts ticked 0.1% higher (4.3% y/y) on the heels of a 2.1% rise. The increase compared to a 1.8% decline in unit vehicle sales reported earlier this month. To the downside were sporting goods, hobby, book & music store purchases which slipped 0.1% (-1.1% y/y), the fifth decline in six months.
Purchases at gasoline service stations increased 0.8% (11.7% y/y) as the pump price of gasoline rose 7.5% m/m.
Sales of nondiscretionary items were mixed last month. Health & personal care store sales fell 0.4% (-0.4% y/y) after a 1.1% jump. Food & beverage store sales improved 0.4% (3.4% y/y), the strongest rise in six months.
Individuals took a break from eating out last month. Food service & drinking establishment sales fell 0.3% (+3.8% y/y) after a 1.2% increase. It was the first meaningful decline since February of last year.
The retail sales data can be found in Haver's USECON database. The Action Economics forecast is in the AS1REPNA database.
| Retail Spending (% chg) | Apr | Mar | Feb | Apr Y/Y | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|
| Total Retail Sales & Food Services | 0.3 | 0.8 | 0.0 | 4.7 | 4.2 | 3.2 | 2.6 |
| Excluding Autos | 0.3 | 0.4 | 0.4 | 4.8 | 4.2 | 3.0 | 1.4 |
| Non-Auto Less Gasoline | 0.3 | 0.4 | 0.3 | 3.9 | 3.6 | 3.9 | 4.2 |
| Retail Sales | 0.4 | 0.7 | -0.0 | 4.8 | 4.4 | 2.9 | 1.9 |
| Motor Vehicle & Parts | 0.1 | 2.1 | -1.2 | 4.3 | 4.1 | 4.1 | 7.3 |
| Retail Less Autos | 0.5 | 0.3 | 0.3 | 5.0 | 4.5 | 2.5 | 0.4 |
| Gasoline Stations | 0.8 | 0.3 | 0.5 | 11.7 | 8.9 | -5.7 | -17.6 |
| Food Service & Drinking Places Sales | -0.3 | 1.2 | 0.4 | 3.8 | 2.8 | 5.9 | 8.1 |
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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