- Ireland: **CPI Rebased to Dec-2016=100 (Jan)**
- Finland: LFS, Vacancies (Jan); Sweden: Population (2016)
- Flash Surveys: Japan, France, Germany, Eurozone, US (Feb); Manufacturing Survey - US (Feb)
- Bahrain: CPI (Jan); Tunisia: Real GDP, Unemployment (Q4); South Africa: Leading Indicators (Dec); Oman: PPI (Q4); Kenya: Foreign Trade (Dec-Prelim)
- Luxembourg: Employment and Unemployment (Jan)
- Estonia: HICP (Jan); Lithuania: PPI (Jan); Macedonia: ODC
- more updates...
Economy in Brief
European PMI Data Rise and Create a Twist on a Theme
The manufacturing and service sectors both are showing lift in the Markit PMI framework in February...
U.S. Leading Economic Indicators Post Another Strong Increase
The Conference Board's Composite Index of Leading Economic Indicators increased 0.6% during January (2.5% y/y)...
EMU Current Account Surplus Shrinks in December: Still Way Too Large
Germany, the largest EMU economy, has run nothing but current account surpluses since July 2001 with only two monthly exceptions...
U.S. Housing Starts Ease, But Permits Improve
Housing starts during January declined 2.6% to 1.246 million (AR) from 1.279 million in December...
Philadelphia Fed Factory Business Conditions Index Strengthens
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index jumped to 43.3 during February...
U.S. Initial Claims For Unemployment Insurance Rise Slightly
Initial claims for unemployment insurance increased to 239,000 (-8.1% y/y) during the week ended February 11...
by Carol Stone, CBE February 15, 2017
Total retail sales and spending at restaurants increased 0.4% (4.9% y/y) in January following a 1.0% December rise, which was revised from 0.6%. A more modest 0.1% increase had been expected in the Action Economics Forecast Survey.
Sales at motor vehicles & parts dealers accounted for the January slowdown in the total; these fell 1.4% (5.8% y/y), after their sizable 3.2% gain in December. The decline compared to a 4.4% decrease in unit sales of light vehicles. Excluding autos, retail sales increased 0.8% (4.7% y/y). clearly more than December's a 0.4% rise. A 0.4% increase had been expected. Sales at gasoline service stations again lifted retail spending last month, as they went up 2.3% (13.9% y/y); December's gas stations sales increase was revised from 2.0% to 3.2%. In the CPI array for January, gasoline prices are seen to have risen 7.8% in the month. Retail sales excluding both auto dealers & gas stations rose 0.7% (3.8% y/y) in January following a 0.1% rise.
In other discretionary spending categories, furniture store sales were flat in January (-0.3% y/y) after a 0.9% fall in December. In contrast, several other store groups had January gains after a slow December; electronics & appliance store sales rebounded 1.6% (-1.7% y/y) from December's 1.7% decline. Clothing store sales gained 1.0% (0.4% y/y) after December's slim 0.1% rise. General merchandise store sales advanced 0.9% (-1.4% y/y) following a 0.4% decrease. Sporting goods store sales gained 1.8% (-3.7% y/y) after easing 0.2% in December.
In the non-discretionary spending categories, health & personal care store sales increased 0.7% (9.4% y/y) in January, similar to December's 0.6% rise. Food & beverage store sales rose 0.4% (+0.4% y/y) following a slippage of 0.2%.
Nonstore retailers had flat sales in January (14.5% y/y), but that followed a 1.9% gain in December.
Sales at food service & drinking places advanced 1.4% (3.4% y/y), following December's 1.1% decline.
The retail sales data can be found in Haver's USECON database. The Action Economics forecast expectations are included in the AS1REPNA database.
|Retail Spending (%)||Jan||Dec||Nov||Jan Y/Y||2016||2015||2014|
|Total Retail Sales & Food Services||0.4||1.0||0.2||4.9||3.3||2.3||4.2|
|Non-Auto Less Gasoline||0.7||0.1||0.3||3.8||4.2||4.2||4.6|
|Motor Vehicle & Parts||-1.4||3.2||-0.3||5.8||3.9||6.5||6.5|
|Retail Less Autos||0.7||0.6||0.1||4.9||2.6||0.2||3.3|
|Food Service & Drinking Places Sales||1.4||-1.1||1.2||3.4||5.9||8.1||6.1|