Global| Oct 29 2013U.S. Retail Sales Slip But Spending less Autos Firms
by:Tom Moeller
|in:Economy in Brief
Summary
Retail sales and food services posted a 0.1% slip (+3.2% y/y) during September following an unrevised 0.2% August rise. A 0.1% uptick had been expected in the Action Economics Forecast Survey. A 2.2% decline (+5.1% y/y) in motor [...]
Retail sales and food services posted a 0.1% slip (+3.2% y/y) during September following an unrevised 0.2% August rise. A 0.1% uptick had been expected in the Action Economics Forecast Survey. A 2.2% decline (+5.1% y/y) in motor vehicle purchases held back total sales for the month. It was consistent with the earlier reported fall in unit vehicle sales. Retail sales excluding autos rose 0.4% (2.8% y/y) after a 0.1% August uptick. A 0.3% rise had been expected.
Sales at general merchandise stores gained 0.4% (0.6% y/y) after a 0.2% August decline. Sales at furniture and electronics stores also rose 0.4% (3.0% y/y) on the heels of a 0.6% rise. Sales of nonstore retailers gained 0.4% (8.9% y/y) following a 0.3% August increase. Sales of building materials and garden equipment ticked up 0.1% (5.8% y/y) following their 0.3% shortfall. Countering these gains was a 0.5% decline (+2.7% y/y) in apparel store sales after a 0.2% August drop.
In the nondiscretionary spending categories, food & beverage store sales gained 0.9% (3.4% y/y) after a 0.1% dip. Health care & personal care store sales rose 0.4% (3.6% y/y) after a 0.1% gain, however, sales at gasoline service stations were unchanged (-3.8% y/y) following a 0.3% August drop.
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNAdatabase.
| Retail Spending (%) | Sep | Aug | Jul | Sep Y/Y | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|
| Total Retail Sales & Food Services | -0.1 | 0.2 | 0.4 | 3.2 | 5.3 | 7.5 | 5.5 |
| Excluding Autos | 0.4 | 0.1 | 0.6 | 2.8 | 4.8 | 7.0 | 4.5 |
| Non-Auto Less Gasoline & Building Supplies | 0.4 | 0.1 | 0.5 | 3.4 | 4.3 | 5.4 | 3.5 |
| Retail Sales | -0.2 | 0.2 | 0.4 | 3.1 | 5.0 | 7.7 | 5.8 |
| Motor Vehicle & Parts | -2.2 | 0.7 | -0.7 | 5.1 | 7.5 | 10.1 | 10.6 |
| Retail Less Autos | 0.3 | 0.0 | 0.7 | 2.6 | 4.4 | 7.1 | 4.6 |
| Gasoline Stations | 0.0 | -0.3 | 0.6 | -3.8 | 4.0 | 18.4 | 14.6 |
| Food Service & Drinking Places Sales | 0.9 | 0.5 | 0.5 | 4.2 | 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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