- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- 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 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|