- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
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)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
by Tom Moeller August 12, 2016
Total retail sales & spending at restaurants were virtually unchanged during July (2.3% y/y) following a 0.8% June rise, revised from 0.6%. Consensus expectations had been for 0.4% growth in the Action Economics Forecast Survey.
Auto sales supported total spending with a 1.1% rise (2.4% y/y) following a 0.5% increase. The gain compared to a 6.8% jump in unit vehicle sales. Overall retail sales excluding autos declined 0.3% (+2.2% y/y) after an upwardly revised 0.9% increase. A 0.2% gain had been expected.
Lower gasoline prices held back the rise in total sales as gasoline service station sales fell 2.7% (-11.0% y/y), and reversed a 2.2% rise. A 0.5% decline (+3.5% y/y) in purchases of building materials & garden equipment also damped total spending. Excluding these categories, and autos as well, retail sales eased slightly (+3.3% y/y).
Retail sales also eased minimally last month (+1.9% y/y) after a 0.9% gain. Sales excluding autos declined 0.4% (+1.7% y/y) after 1.0% rise. Nonstore retail outlets posted a 1.3% surge (14.1% y/y) in sales, the same as in June. Furniture & home furnishings store sales gained 0.2% (4.3% y/y) following a 1.5% jump. Electronics & appliance store sales eased, however, by 0.1% (-3.8% y/y). Apparel store sales declined 0.5% (-1.2% y/y) after little change, and general merchandise store sales eased 0.1% (-1.1% y/y) following 0.2% rise. Sporting goods store sales declined 2.2% (+2.1% y/y) and reversed a 1.7% increase. Restaurant & drinking establishment sales fell 0.2% (+5.0% y/y) after a 0.3% gain.
In the non-discretionary spending category, health & personal care sore sales gained 0.1% (7.8% y/y) following a 0.9% jump. Food & beverage store sales declined 0.6% (+1.4 y/y).
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.
|Retail Spending (%)||Jul||Jun||May||Jul Y/Y||2015||2014||2013|
|Total Retail Sales & Food Services||-0.0||0.8||0.2||2.3||2.3||4.1||3.8|
|Non-Auto Less Gasoline, Building Supplies & Food Services (Control Group)||-0.0||0.5||0.4||3.3||3.3||4.0||2.9|
|Motor Vehicle & Parts||1.1||0.5||-0.3||2.4||6.5||6.4||8.3|
|Retail Less Autos||-0.4||1.0||0.2||1.7||0.2||3.2||2.6|
|Food Service & Drinking Places Sales||-0.2||0.3||0.5||5.0||8.0||6.1||3.7|