Hurricane effects are evident in autos, slowing sharply to a still very strong 0.7 percent gain from September's 4.6 percent replacement surge. Building materials reversed sharply, down 1.2 percent following a 3.0 percent gain, with gasoline down 1.2 percent vs September's plus 6.4 percent. On the plus side, furniture along with electronics & appliance stores both rose 0.7 percent in October with health & personal care stores up 0.8 percent.
Year-on-year rates did moderate in October but only slightly and remain at respectable levels: total sales are up a yearly 4.6 percent, down 2 tenths in the month, with control group sales at 3.4 percent, also down 2 tenths. Yet the month of October, for retail sales, dims in importance to the holiday months of November and December going into which expectations are very strong for very solid results.
Recent History Of This Indicator:
Auto and gasoline sales both spiked on hurricane effects in September which inflated the month's headline gain to 1.6 percent. But core readings were very positive in the month and underscored the fundamental strength of the consumer. Retail sales in October are expected to rise 0.1 percent with ex-auto sales at 0.2 percent. Two core readings -- less auto & gas and control group sales – are both expected to show appreciable gains, at 0.4 percent and 0.3 percent respectively.
Auto and gasoline sales both spiked on hurricane effects in September which inflated the month's headline gain to 1.6 percent. But core readings were very positive in the month and underscored the fundamental strength of the consumer. Retail sales in October are expected to rise 0.1 percent with ex-auto sales at 0.2 percent. Two core readings -- less auto & gas and control group sales – are both expected to show appreciable gains, at 0.4 percent and 0.3 percent respectively.
No comments:
Post a Comment