- China: Industrial Profits (Mar); Philippines: Tourist Arrivals (Feb); Korea: GDP (Q1)
- New Zealand: Tourism Expenditure, International Reserves, RBNZ Analytical Accounts and Statistical Balance Sheet (Mar); Australia: Import and Export Price Indexes (Q1)
- Japan: Input Output Prices, International Trade, Lease Contracts (Mar), First 10 Days Trade (Apr)
- France: INSEE Household Survey (Apr), Registered Unemployed & Job
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller June 14, 2016
Total retail sales & spending at restaurants increased 0.5% (2.5% y/y) during May following an unrevised 1.3% April jump. The rise compared to expectations for 0.3% growth in the Action Economics Forecast Survey.
The increase in motor vehicle sales cooled to a 0.5% pace (2.1% y/y) following a 3.1% jump. The rise compares to a 0.2% gain in unit auto sales which followed a 5.1% gain. Excluding autos, total retail spending increased 0.4% (2.7% y/y) after a 0.8% rise. A 0.3% increase had been expected.
Spending in the retail control group, which excludes autos, gasoline, building materials and restaurants increased 0.4% (3.5% y/y) after a 1.0% jump.
As prices rose, gasoline service station sales jumped 2.1% (-9.5% y/y) following two months of even stronger increases. Building material store sales fell 1.8% (+3.6% y/y), the fourth decline this year. Purchases at restaurants improved 0.8% (6.5% y/y) following a 0.5% increase.
Within the discretionary spending categories, sporting goods store sales jumped 1.3% (5.2% y/y), after a 0.2% dip. Sales of nonstore retailers built on earlier strength also with a 1.3% increase (12.2% y/y). Clothing & accessory store sales improved 0.8% (-0.5% y/y), the strongest gain this year. Purchases at electronics & appliance stores increased 0.3% (-3.1% y/y), after a 0.2% rise. To the downside, general merchandise store sales eased 0.3% (-0.7% y/y), their third decline this year. Furniture & home furnishings spending fell 0.1% (+0.2% y/y) following a 0.3% rise.
In the non-discretionary spending categories, health & personal care store sales increased 0.6% (8.3% y/y) following three months of stronger gain. Food & beverage store sales also increased 0.5% (2.6% y/y) after a 1.2% jump.
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.
|Retail Spending (%)||May||Apr||Mar||May Y/Y||2015||2014||2013|
|Total Retail Sales & Food Services||0.5||1.3||-0.3||2.5||2.3||4.1||3.8|
|Non-Auto Less Gasoline, Building Supplies & Food Services (Control Group)||0.4||1.0||0.2||3.5||3.3||4.0||2.9|
|Motor Vehicle & Parts||0.5||3.1||-3.1||2.1||6.5||6.4||8.3|
|Retail Less Autos||0.4||0.9||0.5||2.0||0.2||3.2||2.6|
|Food Service & Drinking Places Sales||0.8||0.3||-0.4||6.5||8.0||6.1||3.7|