- Korea: GDP (Q4); Thailand Auto Sales (Feb)
- Turkey: Capacity Utilization, Business Tendency survey (Mar); South Africa: Tourism & Migration (Jan), Manufacturing Survey (Q1)
- Croatia: Tourism (Jan); Montenegro: Foreign Trade (Feb); Czech Republic: CPI by COICOP (Feb), Registered Employment (Q4); Kazakhstan: Loans & Deposits (Feb); Slovenia: Business Cycle Indicators (Mar); Russia: Employment by Industry (Q4);
- more updates...
Economy in Brief
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...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
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|