Retail sales rose 0.1 percent in October, improving ever-so-slightly from being unchanged in both August and September. As such, this report continues to reflect anxieties among consumers, with some hesitance for them to open their pocketbooks on recent economic weaknesses. Indeed, retail spending has grown just 1.7 percent over the past 12 months, a modest but less-than-ideal pace. (continue reading…)
Tag: retail sales
The Census Bureau said that retail sales edged up 0.1 percent in September, improving only slightly from being unchanged in August. The August figure was revised lower, down from an original growth estimate of 0.2 percent. This would indicate that Americans have some hesitance in opening their pocketbooks.
The September retail sales numbers were mixed. Motor vehicles and parts sales rebounded from a weaker August, up 1.7 percent versus 0.4 percent in the previous report. Other areas with stronger sales included clothing and accessories (up 0.9 percent), sporting goods and hobby stores (up 0.9 percent), food services and drinking places (up 0.7 percent) and furniture and home furnishings (up 0.6 percent). In contrast, there were reduced sales noted for miscellaneous store retailers (down 1.3 percent), building supplies and materials (down 0.3 percent), food and groceries (down 0.3 percent), electronics and appliances (down 0.2 percent) and nonstore retailers (down 0.2 percent). (continue reading…)
The Census Bureau said that retail sales rose 0.2 percent in August, slowing from the 0.7 percent growth rate seen in July. It was the fourth increase in the past six months (with the other two being unchanged), as consumer spending has rebounded somewhat from softness earlier in the year. The year-over-year pace has improved from a disappointing 1.3 percent pace in April to 2.2 percent in August; although, that was down from 2.6 percent in the prior report. Nonetheless, the public remains cautious in their willingness to open their pocketbooks. As an illustration of that point, retail sales growth was 4.9 percent year-over-year twelve months ago, or almost double the current pace. (continue reading…)
The Census Bureau said that retail sales increased 0.6 percent in July, bouncing back from being unchanged in June. The prior month’s softness had been unexpected, making the rebound in July more welcome. The year-over-year pace improved from a disappointing 1.3 percent pace in April to 2.4 percent in July. Needless to say, even that modest rate of consumer spending suggests that the public remains somewhat cautious in their willingness to open their pocketbooks. As an illustration of that point, retail sales growth was 4.7 percent year-over-year in November, or almost double the current pace. (continue reading…)
The Census Bureau said that retail sales fell by 0.3 percent in June, pulling back from the 1.0 percent gain seen in May. The decline was unexpected, with a consensus anticipation of a slight increase. It was the first decrease in retail spending since February, and it suggests that the public continues to remain somewhat cautious in their willingness to open their pocketbooks. The year-over-year pace was a disappointing 1.4 percent, down from 2.3 percent in May and well below the 4.7 percent rate observed in November. (continue reading…)
Here are the files for this week’s Monday Economic Report:
Manufacturers and other businesses came into this year with a lot of optimism, particularly given robust growth in the second half of last year. Instead, economic growth has been disappointing year-to-date. A number of significant headwinds have challenged the sector, including a stronger dollar, lower crude oil prices, the residual effects of the West Coast ports slowdown and cautiousness in consumer spending. Much of this can be seen in recent GDP and production figures, which have reflected recent declines in activity, particularly in the first quarter. (continue reading…)
The Census Bureau said that retail sales increased 1.2 percent in May, bouncing back from a softer April, where spending rose just 0.2 percent. On a year-over-year basis, consumers spent 2.7 percent more today than 12 months ago, a modest gain that represents a notable improvement from the 1.5 percent pace in the prior report. Still, these data continue to reflect the softer economic environment seen so far in 2015, with the year-over-year pace down from 4.7 percent in November.
With that said, these data have been skewed by changes in gasoline prices over the past year. Lower prices have resulted in a drop in sales, which are expressed in nominal terms, of 18.6 percent since May 2014. Retail spending excluding gasoline station sales was up 5.2 percent year-over-year in May, up from 4.3 percent in April. This suggests a stronger pace of overall consumer spending than the headline figure might indicate. (continue reading…)
Here is the summary for this week’s Monday Economic Report:
One of the larger headlines of the past week was the renewed strength of the euro, which closed at $1.1449 on Friday. To put that exchange rate in perspective, the euro traded for $1.0582 on April 13, and Friday’s close was the highest level for the euro since February 2. To be fair, the U.S. dollar remains strong against the euro, up 17.8 percent since May 6, 2014. Yet, the recent weakness in the dollar (and strength in the euro) has been the result of weaker-than-expected economic data in the United States and better-than-anticipated numbers coming out of Europe. Many of the underlying long-term fundamentals in these two regions remain the same, but those manufacturers worried about the negative impact of a soaring dollar got some welcome relief last week in the recent easing of the greenback. (continue reading…)
Consumers remained cautious in their spending in April, according to the Census Bureau. Retail sales were unchanged for the month, softening from the rebound seen in March. Overall, spending has decelerated significantly over the past few months, down from a year-over-year rate of 4.7 percent in November to just 0.9 percent in April.
With that said, the longer-term view is perhaps more encouraging than the headline number might suggest. Total retail spending includes gasoline station sales, which have fallen 22.0 percent since April 2014 on lower prices. Excluding gasoline stations, retail sales grew 3.6 percent year-over-year. This suggests modest growth in the broader retail market over the past 12 months. Still, this figure has also eased recently, down from 5.8 percent year-over-year in November. (continue reading…)
Here is the summary for this week’s Monday Economic Report:
Manufacturing production increased 0.1 percent in March. This followed three months of weaker data, including declines in both January and February. There have been some significant headwinds hitting the manufacturing sector over the past few months, including a strong U.S. dollar, weakened economic markets abroad, lower crude oil prices, the West Coast ports slowdown and weather. These challenges have slowed activity in the sector since November. The latest Beige Book discussed these headwinds. The year-over-year pace of manufacturing production in March was 2.4 percent, down from 4.5 percent in November. Meanwhile, total industrial production, which includes mining and utilities, fell 0.6 percent in March, declining for the third time in the past four months. As such, the data suggest manufacturers have started the new year on a very soft note despite optimism for better demand and output moving forward. (continue reading…)