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Economy in Brief
U.S. Mortgage Applications Continue to Weaken
The MBA Loan Applications Index fell 1.2% (-54.5% y/y) in the week ended May 20...
German Climate Reading Continues to Skid Toward the Abyss
Germany's GfK consumer climate reading improved ever so slightly in June...
U.S. New Home Sales Plunge in April as Prices Jump
The new home sales market is unraveling...
U.S. Energy Prices Rise Further
Retail gasoline prices increased to $4.59 per gallon in the week ended May 23...
S&P Flash PMIs Are Mixed in May As Manufacturing Erodes Slowly
Among the early reporting countries in Europe and Japan, the S&P PMI readings for May tilt toward weakness...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
State Coincident Indexes in April 2022
State Labor Markets in April 2022
Profits & Margins Plunge In Q1: Expect More Margin Contraction As Fed Squeezes Inflation
The Many Links of Inflation Cycle: Hard Landing Is Needed to Crack Them
Peak Inflation and Fed Policy: A Relationship which Should Worry the Fed and Scare Investors
by Robert Brusca October 11, 2007
While auto sales have revived in August, the rest of retail sales remain lethargic.In real terms retail sales excluding auto sales fell by 1.6% in August. For the third quarter, sales are off to a weak start as nominal retail sales excluding autos are off at a 0.9% rate; real retail sales excluding autos are off at a 1% annual rate. Food and tobacco plus clothing and footwear categories are off sharply in the new quarter as well. But auto and parts sales are up at a strong 25% annual rate. Since The German VAT was hiked in January retail sales are still hampered.
| German Real and Nominal Retail Sales | New QTR | |||||||
|---|---|---|---|---|---|---|---|---|
| Nominal | Aug-07 | Jul-07 | Jun-07 | 3-MO | 6-MO | 12-MO | YrAgo | SAAR |
| Retail Ex auto | -1.4% | 0.7% | 1.4% | 3.0% | -0.9% | -2.1% | 7.0% | -0.9% |
| MV and Parts | 3.6% | 0.9% | 0.0% | 19.1% | 26.3% | -0.4% | 17.5% | 25.6% |
| Food Bev & Tobacco | -1.2% | -0.1% | 0.8% | -1.8% | -1.8% | -1.3% | 5.1% | -5.4% |
| Clothing footwear | -0.2% | 0.2% | 5.5% | 23.8% | -1.9% | -3.4% | 11.8% | -3.8% |
| Real | ||||||||
| Retail Ex auto | -1.6% | 0.7% | 1.4% | 2.3% | -1.3% | -3.0% | 6.5% | -1.0% |
