- 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 September 15, 2016
Total retail sales & spending at restaurants fell 0.3% during August (+1.9% y/y) following a 0.1% July uptick, revised from little change. Expectations had been for a 0.1% slip in the Action Economics Forecast Survey.
Auto sales led the decline in spending last month with a 0.9% drop (+1.4% y/y), following a 1.7% increase. The fall compared to a 5.0% decline in unit vehicle sales. Overall retail sales excluding autos eased 0.1% (+2.0% y/y) after a 0.4% decline. A 0.2% gain had been expected.
Lower gasoline prices held back the rise in total retail sales for a second straight month. Gasoline service station sales fell 0.8% (-9.5% y/y), and added to a 2.6% July drop. A 1.4% decline (+2.2% y/y) in purchases of building materials & garden equipment also damped total spending. Excluding these categories, and autos as well, retail sales eased 0.1% (+2.8% y/y) for a second straight month.
Retail sales declined 0.5% last month (+1.4% y/y) after a 0.1% gain. Sales excluding autos declined 0.3% (+1.4% y/y) following a 0.4% fall. Nonstore retail outlets posted a 0.3% decline in sales (+10.9% y/y) after a 0.7% increase. Furniture & home furnishings store sales were off 0.7% (+1.6% y/y) following a 1.1% decline. Electronics & appliance store sales improved, however, by 0.1% (-3.1% y/y) after a 0.1% dip. Apparel store sales increased 0.7% (-0.3% y/y) and made up the prior month's decline, while general merchandise store sales remained unchanged (-0.7% y/y) after easing 0.1%. Sporting goods store sales declined 1.4% (+1.1% y/y) after a 2.1% decline. Restaurant & drinking establishment sales increased 0.9% (+5.8% y/y), the strongest rise in six months.
In the non-discretionary spending category, health & personal care sore sales fell 0.1% (7.8% y/y) following a 0.5% increase. Food & beverage store sales gained 0.3% (1.7% y/y) after a 0.4% decline.
Atlanta Fed Economists Probe Mysteries of Chinese Economy from the Federal Reserve Bank of Atlanta is available here.
The retail sales figures are available in Haver's USECON database. The Action Economics figures are in the AS1REPNA database.
|Retail Spending (%)||Aug||Jul||Jun||Aug Y/Y||2015||2014||2013|
|Total Retail Sales & Food Services||-0.3||0.1||0.7||1.9||2.3||4.1||3.8|
|Non-Auto Less Gasoline, Building Supplies & Food Services (Control Group)||-0.1||-0.1||0.3||2.8||3.3||4.0||2.9|
|Motor Vehicle & Parts||-0.9||1.7||0.5||1.4||6.5||6.4||8.3|
|Retail Less Autos||-0.3||-0.4||0.8||1.4||0.2||3.2||2.6|
|Food Service & Drinking Places Sales||0.9||-0.0||0.5||5.8||8.0||6.1||3.7|