- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
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Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller May 13, 2016
Total retail sales & spending at restaurants increased 1.3% (3.0% y/y) during April following a 0.3% decline, unrevised from the preliminary report. The rise compared to expectations for a 0.8% improvement in the Action Economics Forecast Survey. The figures reflect annual revisions published late last month.
Stronger sales of motor vehicles led spending as a 3.2% rise (3.1% y/y) recouped March's 3.2% decline. The increase compares to a 5.1% increase in unit auto sales which recovered the prior month's 5.5% drop. Excluding autos, total retail spending increased 0.8% (3.0% y/y) which built on gains of 0.4% and 0.2% in the prior two months. A 0.4% rise had been expected.
Gasoline service station sales rose 2.2% (-9.6% y/y) following a 3.1% increase as prices rose. Building material store sales fell 1.0% (+8.2% y/y) and reversed two months of increase. Purchases at restaurants improved 0.3% (5.2% y/y) following a 0.4% fall.
Spending in the retail control group, which excludes autos, gasoline, building materials and restaurants increased 0.9% (3.6% y/y). That also was improved from 0.2% and 0.4% increases in the prior two months.
Within the discretionary spending categories, sales of nonstore retailers jumped 2.1% (10.2% y/y), the strongest rise this year. Clothing & accessory store sales increased 1.0% (1.3% y/y) and made up a 0.8% decline. Furniture & home furnishings spending rose 0.7% (3.6% y/y) following a 0.2% rise. Purchases at electronics & appliance stores improved 0.5% (-2.0% y/y), about the same as one month earlier. Sporting goods store sales gained 0.2% (4.2%), the same as in March. Showing a slight decline were general merchandise store sales (0.5% y/y), and they're down slightly versus yearend.
In the non-discretionary spending categories, health & personal care store sales increased 0.9% (8.1% y/y) following two months of even stronger gain. Food & beverage store sales also increased 0.9% (1.9% y/y) after a 0.5% decline.
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.
|Retail Spending (%)||Apr||Mar||Feb||Apr Y/Y||2015||2014||2013|
|Total Retail Sales & Food Services||1.3||-0.3||0.3||3.0||2.3||4.1||3.8|
|Non-Auto Less Gasoline, Building Supplies & Food Services (Control Group)||0.9||0.2||0.4||3.6||3.3||4.0||2.9|
|Motor Vehicle & Parts||3.2||-3.2||0.7||3.1||6.5||6.4||8.3|
|Retail Less Autos||0.8||0.6||-0.1||2.6||0.2||3.2||2.6|
|Food Service & Drinking Places Sales||0.3||-0.4||1.9||5.2||8.0||6.1||3.7|