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US Retail Sales Surprise on the Upside
Retail sales in the US rose 0.7% month-over-month in March 2024, following an upwardly revised 0.9% gain in February and much higher than forecasts of 0.3%, suggesting consumer spending remains robust. Eight out of 13 categories posted increases. Major increases were seen in sales at nonstore retailers (2.7%), gasoline stations (2.1%), miscellaneous store retailers (2.1%), and building materials and garden equipment (0.7%). Gains were also recorded at food and beverages stores (0.5%), health and personal care stores (0.4%) and food services and drinking places (0.4%). On the other hand, sales were down for sporting goods, hobby, musical instrument, & book stores (-1.8%), clothing (-1.6%), electronics and appliances (-1.2%), general merchandise stores (-1.1%), autos (-0.9%) and furniture (-0.3%). Excluding food services, auto dealers, building materials stores and gasoline stations, the so-called core retail sales which are used to calculate GDP, jumped 1.1%.
Published on 2024-04-15

US Retail Sales Rise Less than Expected
Retail sales in the US were up 0.6% month-over-month in February 2024, following an upwardly revised 1.1% fall in January and below market forecasts of a 0.8% gain. The relatively modest increase, combined with a larger decline in January, suggests a potential slowdown in consumer spending. Biggest increases were seen in sales at building materials and garden equipment (2.2%), motor vehicles and part dealers (1.6%) and electronics appliance stores (1.5%). Also, sales at gasoline stations rose 0.9% and other increases were seen at miscellaneous store retailers (0.6%), food services and drinking places (0.4%), general merchandise stores (0.4%) and food and beverages stores (0.1%). On the other hand, a decline was recorded in sales at furniture stores (-1.1%), clothing (-0.5%), health (-0.3%) and nonstore retailers (-0.1%). Excluding food services, auto dealers, building materials stores and gasoline stations, the so-called core retail sales which are used to calculate GDP, were flat.
Published on 2024-03-14

US Retail Sales Fall More than Expected
Retail sales in the US shrank 0.8% month-over-month in January 2024, reversing from a downwardly revised 0.4% rise in December, and worse than market forecasts of a 0.1% fall. It is the biggest decrease in retail sales since March last year, primarily driven by the aftermath of the holiday shopping season and cold weather. Sales at building materials and garden equipment (-4.1%), miscellaneous store retailers (-3%), gasoline stations (-1.7%), motor vehicles and parts (-1.7%) recorded the biggest declines. Sales were also lower at health and personal care stores (-1.1%), nonstore retailers (-0.8%), electronic and appliance stores (-0.4%), clothing (-0.2%) and sporting goods, hobby, musical instruments and books (-0.2%). In contrast, sales were up 1.5% at furniture stores, 0.7% at food services and drinking places, food and beverage stores (0.1%) and flattened at general merchandise stores. Retail sales are adjusted for seasonality but not for price changes.
Published on 2024-02-15

US Retail Sales Rise More than Expected
Retail sales in the US soared 0.6% month-over-month in December 2023, following a 0.3% rise in November and beating forecasts of 0.4%. It is the biggest increase in three months, led by sales of autos (1.2%). Excluding autos, retail sales increased 0.4%. Sales also went up at nonstore retailers (1.5%), clothing (1.5%), general merchandise stores (1.3%), miscellaneous store retailers (0.7%), building materials and garden equipment (0.4%), sporting goods, hobby, musical instrument and books (0.3%), and food and beverages stores (0.2%). On the other hand, sales declined at health and personal care (-1.4%), gasoline stations (-1.3%), furniture (-1%) and electronics and appliances (-0.3%) and were unchanged at food services and drinking places. Excluding autos, gas, building materials and food services, the so-called core retail sales rose at a strong 0.8%, the most since July. Considering full 2023, unadjusted retail sales increased 3.2%.
Published on 2024-01-17

US Retail Sales Unexpectedly Rise
Retail sales in the US unexpectedly increased 0.3% month-over-month in November 2023, rebounding from an upwardly revised 0.2% fall in October, and beating market forecasts of a 0.1% decline. Figures suggested a strong start of the holiday shopping season, with sales at food services and drinking places (1.6%), nonstore retailers (1%), health and personal care (0.9%) and furniture stores (0.9%) recording the biggest increases. Sales were also up at clothing stores (0.6%), motor vehicles and part dealers (0.5%) and food and beverages stores (0.2%). In contrast, sales at gasoline stations sank 2.9% as gas prices declined. Sales were also lower at miscellaneous store retailers (-2%), electronics & appliance stores (-1.1%), building material & garden equipment & supplies dealers (-0.4%), and general merchandise stores (-0.2%). Excluding autos, gas, building materials and food services, retail sales rose a robust 0.4%. Retail sales data are not adjusted for inflation.
Published on 2023-12-14

US Retail Sales Fall Less than Forecast
Retail sales in the United States decreased by 0.1% month-over-month in October 2023, putting an end to a six-month streak of increases and compared with the market consensus of a 0.3% decline. Sales at miscellaneous store retailers recorded the largest decrease (-1.7%), followed by furniture stores (-2.0%), motor vehicle dealers (-1.0%), sporting goods, musical instruments, and book sellers (-0.8%), gasoline stations (-0.3%), and general merchandise stores (-0.2%). These declines were partially offset by rising receipts at health and personal care stores (1.1%), food & beverage stores (0.6%), electronics and appliances stores (0.6%), restaurants and bars (0.3%), and online trade (0.2%). On a yearly basis, retail trade growth slowed to 2.5% in October from an upwardly revised 4.1% in September.
Published on 2023-11-15

US Retail Sales Remain Robust
Retail sales in the US advanced 0.7% mom in September 2023, following an upwardly revised 0.8% rise in August and beating forecasts of a 0.3% advance. The data continues to point to robust consumer spending despite high prices and borrowing costs. Sales at miscellaneous store retailers recorded the biggest increase (3%), followed by nonstore retailers (1.1%), motor vehicles and parts dealers (1%) and gasoline stations (0.9%). Retail sales are not adjusted for inflation. Other increases were also seen in sales at food services & drinking places (0.9%); health & personal care stores (0.8%); food & beverage stores (0.4%); and general merchandise stores (0.4%). On the other hand, sales were flat at furniture stores and sporting goods, hobby, musical instrument, & book stores and fell for electronics & appliances (-0.8%); clothing stores (-0.8%) and building material & garden equipment (-0.2%). Excluding autos, gas, building materials and food services, retail sales rose a robust 0.6%.
Published on 2023-10-17

US Retail Sales Top Forecasts
Retail sales in the US advanced 0.6% mom in August 2023, higher than a downwardly revised 0.5% rise in July and beating forecasts of a 0.2% advance. The data continues to point to robust consumer spending despite high prices and borrowing costs. Sales at gasoline stations recorded the biggest increase (5.2%), as gasoline prices soared about 10%. Retail sales are not adjusted for inflation. Other increases were also seen in sales at clothing stores (0.9%), electronics & appliance (0.7%), health & personal care (0.5%), food & beverage (0.4%), food services & drinking places (0.3%), general merchandise stores (0.3%), motor vehicle & parts dealers (0.3%) and building material & garden equipment (0.1%). On the other hand, sales were flat at nonstore retailers and fell at sporting goods, hobby, musical instrument, & book stores (-1.6%), miscellaneous store retailers (-1.3%) and furniture stores (-1%). Excluding autos, gas, building materials and food services, retail sales edged up 0.1%.
Published on 2023-09-14

US Retail Sales Top Forecasts
Retail sales in the US were up 0.7% month-over-month in July of 2023, marking a fourth consecutive rise, and beating market forecasts of a 0.4% increase. It follows an upwardly revised 0.3% gain in June, in another sign consumer spending remains strong despite high prices and borrowing costs. Sales in July likely got a boost from Amazon's Prime Day. Sales at nonstore retailers recorded the biggest increase (1.9%), followed by sporting goods, hobby, musical instrument and books (1.5%); food services and drinking places (1.4%); clothing (1%); food and beverages stores (0.8%), general merchandise stores (0.8%); health and personal care (0.7%); building material and garden equipment (0.7%); and gasoline stations (0.4%). On the other hand, sales went down at furniture stores (-1.8%); electronics and appliances (-1.3%); motor vehicles and part dealers (-0.3%) and miscellaneous store retailers (-0.3%). Excluding autos, gas, building materials and food services, retail sales surged 1%.
Published on 2023-08-15

US Retail Sales Rise Less than Expected
Retail sales in the US rose 0.2% month-over-month in June of 2023, following an upwardly revised 0.5% increase in May, but below forecasts of a 0.5% rise. Increases were seen in sales at miscellaneous store retailers (2%); nonstore retailers (1.9%); furniture (1.4%); electronic and appliances (1.1%); clothing (0.6%); motor vehicle and part dealers (0.3%); and food services and drinking places (0.1%). On the other hand, falls were seen in sales at gasoline stations (-1.4%); building materials and garden equipment (-1.2%); sporting goods, hobby, musical and books (-1%); food and beverages stores (-0.7%); health and personal care stores (-0.1%); and general merchandise stores (-0.1%). The so-called core retail sales which exclude automobiles, gasoline, building materials and food services surged 0.6%. Retail sales data continued to signal consumer spending remains resilient, with inflation falling to two-year lows in June. Retail sales are not adjusted for inflation.
Published on 2023-07-18

US Retail Sales Unexpectedly Rise in May
Retail sales in the US unexpectedly rose 0.3% month-over-month in May of 2023, following a 0.4% increase in April, and beating forecasts of a 0.1% decline. The data signaled consumer spending remains resilient, despite higher inflation and interest rates. The biggest increases were seen in sales of building materials and garden equipment (2.2%) and motor vehicles and parts (1.4%). The purchases were also higher at food services and drinking places (0.4%); general merchandise stores (0.4%); furniture stores (0.4%); food and beverages stores (0.3%); sporting goods, hobby, musical instrument, & book stores (0.3%); and electronics and appliances (0.2%). On the other hand, sales were flat at health, personal care, and clothing stores and fell 2.6% at gasoline stations and 1% at miscellaneous store retailers. The so-called core retail sales which exclude automobiles, gasoline, building materials and food services, increased 0.2%, following a 0.6% gain in April.
Published on 2023-06-15

US Retail Sales Rise Less than Expected
Retail sales in the US increased 0.4% mom in April of 2023, rebounding from two consecutive months of declines, but well below market forecasts of a 0.8% increase. Sales at motor vehicles and part dealers were up 0.4% and other increases were seen in sales at building material & garden supplies dealers (0.5%); food services and drinking places (0.6%); health and personal care stores (0.9%); merchandise stores (0.9%); nonstore retailers (1.2%); and miscellaneous store retailers (2.4%). On the other hand, sales at gasoline stations unexpectedly declined 0.8%, despite a rise in the price of gasoline and sales at food and beverage stores went down 0.2%. Other decreases were also recorded for clothing (-0.3%); electronics (-0.5%); furniture (-0.7%); and sporting goods, hobby, musical and books (-3.3%). However, the so-called core retail sales which exclude automobiles, gasoline, building materials and food services, increased at a faster 0.7%, in a sign of sustained consumer demand.
Published on 2023-05-16

US Retail Sales Fall More than Expected
Retail sales in the US sank 1% month-over-month in March of 2023, following a downwardly revised 0.2% fall in February, and way more than market forecasts of a 0.4% drop, in a sign cost pressures and rising interest rates are weighing on consumers' willingness to spend. Biggest declines were seen in sales at gasoline stations (-5.5%), mostly driven by lower prices; general merchandise stores (-3%); building materials and garden equipment (-2.1%); electronics and appliances (-2.1%); clothing (-1.7%); motor vehicle dealers (-1.6%); furniture (-1.2%). Sales at food and beverages stores edged 0.1% lower. On the other hand, sales rose 1.9% at nonstore retailers and 0.1% at food services and drinking places. The so-called core retail sales which exclude automobiles, gasoline, building materials and food services and relate more with the consumer spending component of GDP, went down 0.3%. Retail sales aren’t adjusted for inflation.
Published on 2023-04-14

US Retail Sales Fall Slightly More than Expected
Retail sales in the US were down 0.4% month-over-month in February of 2023, compared to market forecasts of a 0.3% fall, and following an upwardly revised 3.2% surge in January which was the biggest gain since March of 2021. The biggest decreases were seen in sales at furniture stores (-2.5%), food services and drinking places (-2.2%), miscellaneous retailers (-1.8%), motor vehicles and part dealers (-1.8%), clothing stores (-0.8%), gasoline stations (-0.6%). In contrast, increases were seen in nonstore retailers (1.6%), health (0.9%), food and beverages stores (0.5%), general merchandise stores (0.5%) and electronics and appliances (0.3%). Excluding autos, sales were down 0.1% and excluding gas and autos, sales were flat. On the other hand, the so-called core retail sales which exclude automobiles, gasoline, building materials and food services and relate more with the consumer spending component of GDP, increased 0.5%. Retail sales aren’t adjusted for inflation.
Published on 2023-03-15

US Retail Sales Surge 3%
Retail sales in the US unexpectedly jumped 3% month-over-month in January of 2023, the biggest increase since March of 2021 and way above market forecasts of a 1.8% rise. It follows a 1.1% drop in December. Biggest rises were seen in sales at department stores (17.5%), food services and drinking places (7.2%), motor vehicles and parts (5.9%), furniture stores (4.4%), electronics and appliances (3.5%), miscellaneous stores (2.8%) and clothing (2.5%). On the other hand, sales at gasoline stations were flat. Excluding autos, sales increased 2.3% and excluding gas and autos 2.6%. The so-called core retail sales which exclude automobiles, gasoline, building materials and food services and relate more with the consumer spending component of GDP, were up 1.7%. The data showed that consumer spending remains robust after a slowdown last year, amid a strong labour market, wage growth and signs of easing inflationary pressures. Retail sales aren’t adjusted for inflation.
Published on 2023-02-15

US Retail Sales Fall More than Expected
Retail sales in the US declined 1.1% month-over-month in December 2022, following an upwardly revised 1% drop in November and worse than forecasts of a 0.8% fall. Sales at gasoline stations recorded the biggest decrease (-4.6%), followed by furniture stores (-2.5%), motor vehicle dealers (-1.2%), electronics and appliances stores (-1.1%), miscellaneous (-1.1%) and nonstore retailers (-1.1%). In contrast, sales were up 0.3% in building materials and garden equipment stores (0.3%) and sporting goods, musical instruments and book sellers (0.1%). Sales at food and beverage stores were flat. Retail sales aren’t adjusted for inflation and part of the decrease in December can be explained by a fall in goods prices during the month and a holiday shopping that was pulled forward into October. However, excluding sales at gasoline stations, sales were down 0.8%, in another sign of a weaker-than-expected holiday shopping and a slowdown in consumer spending amid high inflation and interest rates.
Published on 2023-01-18

US Retail Sales Fall More than Expected
Retail sales in the US declined 0.6% month-over-month in November of 2022, much worse than market forecasts of a 0.1% decline. It is the biggest drop so far this year, with sales of furniture (-2.6%), building materials (-2.5%) and motor vehicles (-2.3%) falling the most during the holiday season. Other decreases were also seen at electronics stores (-1.5%), nonstore retailers (-0.9%), sporting goods, hobby, musical instruments and books (-0.6%), gasoline stations (-0.1%) and general merchandise stores (-0.1%). In contrast, increases were seen in sales at food services and drinking places (0.9%), food and beverage stores (0.8%), health and personal care stores (0.7%) and miscellaneous retailers (0.5%). Data for November which includes the Black Friday and the Cyber Monday during which big discounts are offered, point to a slowdown in consumer spending amid high inflation and interest rates. It also shows that holiday shopping was pulled forward into October, when sales jumped 1.3%.
Published on 2022-12-15

US Retail Sales Point to Strong Consumer Spending
Retail sales in the US surged 1.3% month-over-month in October of 2022, the strongest increase in eight months, after a flat reading in September and beating market forecasts of a 1% gain. Sales at motor vehicle dealers were up 1.3% as supply chain constraints have been easing while rising gasoline costs pushed sales at gasoline stations 4.1% higher. Excluding gasoline and autos, retail sales were up 0.9%. Other increases were also seen for sales at food services and drinking places (1.6%), food and beverages stores (1.4%), nonstore retailers (1.2%), furniture (1.1%), building materials (1.1%), and health and personal care (0.5%). On the other hand, sales were down for electronics (-0.3%); sporting goods, hobby, musical and books (-0.3%); and general merchandise stores (-0.2%). October data pointed to resilient consumer spending, despite high inflation and rising borrowing costs. Retail sales aren’t adjusted for inflation.
Published on 2022-11-16

US Retail Sales Below Forecasts
US retail trade was unchanged in September 2022, missing market expectations of a 0.2 percent advance, as high inflation and rising borrowing costs hit consumer demand. Receipts were down at motor vehicle & parts dealers (-0.4 percent), gasoline stations (-1.4 percent), building materials stores (-0.4 percent), electronics stores (-0.8 percent); furniture stores (-0.7 percent), sporting goods, hobby, musical instrument, & book stores (-0.7 percent), and miscellaneous store retailers (-2.5 percent). Meanwhile, sales at grocery stores rose 0.4 percent, helped by rising prices in food. Core retail sales which exclude automobiles, gasoline, building materials and food services which correspond most closely with the consumer spending component of GDP, advanced 0.4 percent last month. On a yearly basis, retail sales growth slowed to a five-month low of 8.2 percent.
Published on 2022-10-14

US Retail Sales Top Forecasts
Retail sales in the US went up 0.3% in August from July, following a revised 0.4% fall in the previous month and beating forecasts of a flat reading. Falling gasoline prices allowed consumers to buy other items, with spending rising for motor vehicles (2.8%); miscellaneous stores (1.6%); food services and drinking places (1.1%); building materials and garden equipment (1.1%); sporting goods, hobby, musical instruments and books (0.5%); general merchandise stores (0.5%); food and beverages (0.5%); and clothes (0.4%). On the other hand, sales at gasoline stations were down 4.2%, and decreases were also seen in sales at furniture stores (-1.3%); nonstore retailers (-0.7%); health (-0.6%); and electronics (-0.1%). Excluding gasoline stations, sales rose 0.8%. Core retail sales which exclude automobiles, gasoline, building materials and food services, were unchanged. Retail sales aren’t adjusted for inflation.
Published on 2022-09-15