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Indicator Digest

Retail Sales
Retail sales is a signal of economic growth because it measures how much money is spent at the consumer level. Consumer consumption accounts for two-thirds of many developed economies.

Main Indicator: Retail Sales

Most Recent Release

March
12th, 2010
Actual Forecast Previous Revised Form
0.3% -0.1% 0.1% 0.5%

Advance Retail Sales for February
Current Release Provided by: US Department of Commerce

Ex. Autos: 0.8%, pr. 0.5% R- (Jan), -0.2% (Dec), 1.9% (Nov),
0.0% (Oct), 0.4% (Sep),  1.1% (Aug), -0.6% (Jul), 0.3% (Jun),
0.4% (May), -0.5% (Apr), -0.9% (Mar), 1.0% (Feb), 0.9% (Jan)

Table of Past Data

6/117/148/139/1510/1411/1612/111/142/123/12
Actual0.5%0.6%-0.1%2.7%-1.5%1.4%1.3%-0.3%0.5%0.3%
Forecast0.4%0.3%0.5%1.9%-2.0%0.9%0.6%0.4%0.3%-0.1%
Previous-0.2%0.5%0.8%-0.2%2.2%-2.3%1.1%1.8%-0.3%0.1%
Revised From-0.4%N/A0.6%-0.1%2.7%-1.5%1.4%1.3%N/A0.5%

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Secondary Indicator: Retail Sales excl. Autos

Most Recent Release

January
14th, 2010
Actual Forecast Previous Revised Form
-0.2% 0.3% 1.9% 1.2%

Table of Past Data

4/145/136/117/148/139/1510/1411/1612/111/14
Actual-0.9%-0.5%0.5%0.3%-0.6%0.6%0.5%0.2%1.2%-0.2%
Forecast0.1%0.0%0.2%0.5%0.2%0.0%0.3%0.4%0.5%0.3%
Previous1.0%-1.2%-0.2%0.4%0.5%-0.5%1.0%0.4%0.0%1.9%
Revised From0.7%-0.9%0.5%0.5%0.3%-0.6%1.1%0.5%N/A1.2%

Past Releases

Retail Sales
February
12th, 2010
Actual Forecast Previous Revised Form
0.5% 0.3% -0.3% N/A

Advance Retail Sales for January
Current Release Provided by: US Department of Commerce

Ex. Autos: 0.6%, pr. -0.2% (Dec), 1.9% (Nov), 0.0% (Oct),
0.4% (Sep),  1.1% (Aug), -0.6% (Jul), 0.3% (Jun), 0.4% (May),
-0.5% (Apr), -0.9% (Mar), 1.0% (Feb), 0.9% (Jan), -3.1% (Dec)

Retail Sales
January
14th, 2010
Actual Forecast Previous Revised Form
-0.3% 0.4% 1.8% 1.3%

Advance Retail Sales for December
Current Release Provided by: US Department of Commerce

Ex. Autos: -0.2%, pr. 1.9% R+ (Nov), 0.0% (Oct), 0.4% (Sep), 
1.1% (Aug), -0.6% (Jul), 0.3% (Jun), 0.4% (May), -0.5% (Apr),
-0.9% (Mar), 1.0% (Feb), 0.9% (Jan), -3.1% (Dec), -2.5% (Nov)

US retail sales fell 0.3% in December, a figure that surprised forecasts on the downside and are a disappointing number for the economic recovery. November's sales were revised higher, to an increase of 1.8% from 1.3%, to ad at least a little positive to the release. Consumers are responding to high unemployment by restraining their spending, and with consumer spending making up 70% of the US economy, such numbers will mute the strength of the recovery. The data follows reports that the holiday were better for retailers than a year earlier.

The data reveals that sales of autos and parts fell a sharp 0.8%, but even taking cars out of the equations sales were off 0.2%. The declines in the report were broad based. Sales at electronics and appliances plunged 2.6%, restaurants and bars saw sales dip 0.6%, stores selling building materials saw a 0.4% decline, spending on food was down 0.8%; clothing sales were down 0.6%; and general merchandise stores saw a 0.8% dip. On the plus side was an increase of 0.8% in spending at health and personal care stores, a 0.3% increase at furniture retailers and a 1.6% jump at sproting goods, hpbby, book and music stores.

The data pressured the greenback, with the USD/JPY sliding sharply in its after math and traders used the weak report to push the GBP/USD above its overnight resistance level at 1.63

Retail Sales
December
11th, 2009
Actual Forecast Previous Revised Form
1.3% 0.6% 1.1% 1.4%

Advance Retail Sales for November
Current Release Provided by: US Department of Commerce

Ex. Autos: 1.2%, pr. 0.0% R- (Oct), 0.4% (Sep),  1.1% (Aug),
-0.6% (Jul), 0.3% (Jun), 0.4% (May), -0.5% (Apr), -0.9% (Mar),
1.0% (Feb), 0.9% (Jan), -3.1% (Dec), -2.5% (Nov), -2.2% (Oct)

US retail sales rose 1.3% in November following a 1.1% rise in October that was revised lower. The rise in the headline figure was more than twice the forecast amount and shows that consumers were buying aggressively, a positive sign for the economy. The increase was broad based, as sales excluding auto's was up 1.2%, also surprising forecasts and the biggest gain since January. US consumers continued to buy cars as sales of autos and parts rose 1.6%. Filling stations sales climbed 6%, elevated by rising prices. Taking sales of gasoline and cars out of the equations sales were up 0.6%, as shoppers spent 0.3% at health stores, 0.5% in restaurants and bars, 1.5% on building materials, 2.8% on electronics, and 1% on food and beverages. Categories that saw weaker sales including furniture retailers and clothing stores.

The positive data boosted the greenback as its a sign that the US economy is recovering, and consumer spending, which makes up 70% of the economy is rebounding heading into the holiday shopping season. The data in addition with the better-than-expected November non-farm payroll report is the type of data being watched by policy makers at the Fed. Investors are pricing in that the Fed, seeing such improvement, will move to increase interest rates sooner than expected.

Retail Sales excl. Autos
December
11th, 2009
Actual Forecast Previous Revised Form
1.2% 0.5% 0.0% N/A
Retail Sales
November
16th, 2009
Actual Forecast Previous Revised Form
1.4% 0.9% -2.3% -1.5%

Advance Retail Sales for October
Current Release Provided by: US Department of Commerce

Ex. Autos: 0.2%, pr. 0.4% R- (Sep),  1.1% (Aug), -0.6% (Jul),
0.3% (Jun), 0.4% (May), -0.5% (Apr), -0.9% (Mar), 1.0% (Feb),
0.9% (Jan), -3.1% (Dec), -2.5% (Nov), -2.2% (Oct), -0.6% (Sep)

US retail sales were up 1.4% in October - the first month of the 4th quarter - a better figure than the 0.9% predicted by Wall Street. However, September's decline was revised lower to show a 2.3% drop, which means that sales have been down overall over the last two months. Also, without purchases of automobiles October's figure showed only a 0.2% increase, which was smaller than expected. It was at least the third month in a row that core retail sales were up.

The retail sales data is an important measure of how consumer spending, which makes up about 70% of US GDP, is faring. There are major concerns that with unemployment above 10%, and consumer confidence falling that the holiday shopping season could be a poor one, limiting the strength of the economic recovery.

Retail Sales excl. Autos
November
16th, 2009
Actual Forecast Previous Revised Form
0.2% 0.4% 0.4% 0.5%
Retail Sales
October
14th, 2009
Actual Forecast Previous Revised Form
-1.5% -2.0% 2.2% 2.7%

Advance Retail Sales for September
Current Release Provided by: US Department of Commerce

Ex. Autos: 0.5%,  pr. 1.1% (Aug), -0.6% (Jul), 0.3% (Jun),
0.4% (May), -0.5% (Apr), -0.9% (Mar), 1.0% (Feb), 0.9% (Jan),
-3.1% (Dec), -2.5% (Nov), -2.2% (Oct), -0.6% (Sep), -0.9% (Aug)

US retail sales fell 1.5% in September, a figure that was heavily skewed by a drop in auto sales as a result the government's "cash for clunkers" program expiring the previous month. The 1.5% decline was smaller than expected however as other retail sector performed better than expected. Taking autos out of the equation, sales were up 0.5%. Therefore, despite flat incomes, high unemployment, and consumers paying down their credit, the report shows that households may play a greater role in the emerging economic recovery than first expected. Sales of furniture rose 1.4%, clothing sales were up 0.5%, general merchandise stores gained 0.9%, and food and beverage stores increased 0.7%. Sales of auto's however slid 10.4%, following a strong August which saw auto sales climb 7.8%. 

Retail Sales excl. Autos
October
14th, 2009
Actual Forecast Previous Revised Form
0.5% 0.3% 1.0% 1.1%
Retail Sales
September
15th, 2009
Actual Forecast Previous Revised Form
2.7% 1.9% -0.2% -0.1%

Advance Retail Sales for August
Current Release Provided by: US Department of Commerce

Ex. Autos: 1.1%, pr. -0.6% (Jul), 0.3% (Jun), 0.4% (May),
-0.5% (Apr), -0.9% (Mar), 1.0% (Feb), 0.9% (Jan), -3.1% (Dec),
-2.5% (Nov), -2.2% (Oct), -0.6% (Sep), -0.9% (Aug), 0.3% (Jul)

US retail sales surged in August by 2.7%, the biggest rise in three years, as consumers took advantage of the government's cash for clunkers program, though a 1.1% increase in the core retail sales rate shows that they were spending on more than just autos. Auto sales were up by the most in almost 8 years. Consumer spending, which makes up 70% of the economy, is expected to grow at a 1.7% pace from July through September, and with close to 6.9 million jobs lost during this recession, how spending fares in the 4th quarter will be an important barometer for how the economy recovers. Today's report was welcome news, and is likely to help US stocks in early trading.   

Retail Sales excl. Autos
September
15th, 2009
Actual Forecast Previous Revised Form
0.6% 0.0% -0.5% -0.6%
Retail Sales
August
13th, 2009
Actual Forecast Previous Revised Form
-0.1% 0.5% 0.8% 0.6%

Advance Retail Sales for July
Previous Release Provided by: US Department of Commerce

Ex. Autos: -0.6%,  pr. 0.3% (Jun), 0.4%(May), -0.5% (Apr),
-0.9% (Mar), 1.0% (Feb), 0.9% (Jan), -3.1% (Dec), -2.5% (Nov),
-2.2% (Oct), -0.6% (Sep), -0.9% (Aug), 0.3% (Jul)

US retail sales unexpectedly fell in July, sliding 0.1% when expectations were for a 0.5% increase. It was the first decline in sales in three months. Taking auto's out of the equation, sales were worse, sliding 0.6%, as the government's "cash-for-clunkers" program spurred auto sales. Consumers cut spending at department stores as they face continuing concerns about rising unemployment. Personal consumption will be a major factor for how the recovery will proceed, but as long as job losses continue to mount, consumers will be wary about opening up their wallets. For example, today's weekly jobless claims data showed more people than expected filing new claims for unemployment benefits. 

Retail Sales excl. Autos
August
13th, 2009
Actual Forecast Previous Revised Form
-0.6% 0.2% 0.5% 0.3%
for June
Details in USA "Retail Sales"
Retail Sales
July
14th, 2009
Actual Forecast Previous Revised Form
0.6% 0.3% 0.5% N/A

Advance Retail Sales for June
Previous Release Provided by: US Department of Commerce

Ex. Autos:  0.3%(June) pr. 0.4%(rev. from 0.5% - May), -0.5% (Apr), -0.9% (Mar),
1.0% (Feb), 0.9% (Jan), -3.1% (Dec), -2.5% (Nov), -2.2% (Oct),
-0.6% (Sep), -0.9% (Aug), 0.3% (Jul)

Retail sales rose faster than expected for June, driven primarily by sales of auto and parts and gasoline. It also reflects the stimulus package signed in February and tax cuts coming to fruition. The overall sales data came in at 0.6%, while that excluding autos came in at 0.3%. Still, consumers are hesitant in spending with the anticipation of further job losses. The saving rate continued to rise to 6.9%, the highest since December 1993. Although this month's higher than expected figures provide optimism, the market suspects that underlying conditions call for a recession into the next year. 

Retail Sales excl. Autos
July
14th, 2009
Actual Forecast Previous Revised Form
0.3% 0.5% 0.4% 0.5%

for June
Details in USA "Retail Sales"

Retail Sales
June
11th, 2009
Actual Forecast Previous Revised Form
0.5% 0.4% -0.2% -0.4%

Advance Retail Sales for May
Latest Release Provided by: US Department of Commerce

Ex. Autos: 0.5%, forecast 0.2%, pr. -0.5% (Apr), -0.9% (Mar),
1.0% (Feb), 0.9% (Jan), -3.1% (Dec), -2.5% (Nov), -2.2% (Oct),
-0.6% (Sep), -0.9% (Aug), 0.3% (Jul), 0.8% (Jun)

US retail sales rose 0.5%, slightly above expectations. It was the fourth time out of the last 12 months that sales increased. On the year,  sales are down 9.6%, which shows how far consumer spending has been curtailed in the wake of the recession. The sales figure does factor in price changes, not just volume, and the report showed that gasoline sales, led by price increases, rose 3.6%. Motor vehicles sales meanwhile, were up 0.5%. Excluding autos, sales were up 0.5%. Excluding both gas and autos, sales were up only 0.1%. 

The figure along with a better weekly jobs report helped to push up US equities, adding to risk appetite, which pressured the greenback in today's early NY trading.

Retail Sales excl. Autos
June
11th, 2009
Actual Forecast Previous Revised Form
0.5% 0.2% -0.2% 0.5%
Retail Sales excl. Autos
May
13th, 2009
Actual Forecast Previous Revised Form
-0.5% 0.0% -1.2% -0.9%
Retail Sales excl. Autos
April
14th, 2009
Actual Forecast Previous Revised Form
-0.9% 0.1% 1.0% 0.7%