- Egypt: IP (Feb)
- US: Regional Payroll Employment (Mar)
- US: GDP by Industry (Q4)
- Realtors Confidence Index Survey (Mar)
- US: Existing Home Sales (Mar)
- Manufacturing Survey - Markit US (Flash - Mar), Composite and Services Survey - Markit US (Flash - Mar)
- Mexico: National Employment Survey(Mar)
- *Switzerland: House Price Index - Rebased to Q1-2000=100 (Q1)*
- more updates...
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by Carol Stone, CBE April 14, 2017
Total retail sales and spending at restaurants fell 0.2% (5.2% y/y) in March following a 0.3% decrease in February; that was revised from +0.1% reported initially. The Action Economics Forecast Survey anticipated that March sales would be unchanged.
Sales at motor vehicles & parts dealers dropped 1.2% in March (+5.6% y/y) after a 1.5% fall in February, which was revised from a 0.2% decrease. Separate data show that unit sales of light vehicles dropped 5.4% in March. Excluding motor vehicles, retail sales were unchanged in March (5.4% y/y) and had also been unchanged in February; February was revised down from +0.2%. The March result was less than the Action Economics consensus forecast of a 0.2% increase.
Sales at gasoline service stations fell 1.0% (14.3% y/y). This decrease accompanies a 6.2% fall in gasoline prices measured by the CPI. Those sales had declined 0.3% in February. Retail sales excluding both auto dealers & gas stations edged higher 0.1% in March (4.1% y/y), the same size move as in February.
In nonauto discretionary spending categories, furniture store sales fell 0.3% in March (2.9% y/y) after February's 1.5% decrease. Building materials & hardware also fell, by 1.5% (6.3% y/y), a downturn from February's 2.6% gain. Sporting goods store sales were off 0.8% (-3.8% y/y) after February's 0.4% rise. By contrast, electronics & appliance store sales rebounded 2.6% (-0.7% y/y) from a 1.9% drop in February. Clothing store sales also improved in March, by 1.0% (0.3% y/y) after a steep 2.7% drop in February. General merchandise store sales rose 0.3% (0.9% y/y) following a 0.4% decrease.
In the non-discretionary spending categories, health & personal care store sales edged higher 0.1% (5.7% y/y) in March, following February's 0.9% rise. Food & beverage store sales rose 0.5% (3.6% y/y) after being unchanged in February.
Nonstore retailers' sales were up 0.6% (11.9% y/y), after a similar 0.6% rise in February. These include online shopping and mail order outlets; they were about 10.6% of total retail sales in March.
Sales at food service & drinking places fell 0.6% (2.8% y/y) in March; they had been down 0.3% in February, which was revised from a 0.1% decrease reported before.
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 (%)||Mar||Feb||Jan||Mar Y/Y||2016||2015||2014|
|Total Retail Sales & Food Services||-0.2||-0.3||0.5||5.2||3.3||2.3||4.2|
|Non-Auto Less Gasoline||0.1||0.1||1.0||4.1||4.2||4.2||4.6|
|Motor Vehicle & Parts||-1.2||-1.5||-1.6||5.6||3.9||6.5||6.5|
|Retail Less Autos||0.1||0.1||1.0||5.4||2.6||0.2||3.3|
|Food Service & Drinking Places Sales||-0.6||-0.3||1.7||2.8||5.9||8.1||6.1|