Within the core, moderate strength was seen in nonstore retailers, sporting goods & hobbies, food services & drinking places, and miscellaneous store retailers. Electronics & appliance stores declined along with department stores.
Today's report is moderately positive as component gains were broadly based and consistent with recent gains in consumer confidence and a downward trend in initial jobless claims.
Recent History Of This Indicator:
Retail sales in September declined 0.3 percent after jumping 0.6 percent in August. Excluding autos, sales slipped 0.2 percent after gaining 0.3 percent in August.. Excluding both autos and gasoline sales dipped 0.1 percent, following a jump of 0.5 percent in August. Expectations were for 0.5 percent. Within the core, softness was seen in declines furniture & home furnishings, building materials, nonstore retailers, clothing & accessories, and sporting goods & hobbies. Gains were posted for electronics & appliances (likely iPhones), health & personal care, general merchandise, and food services & drinking places. The latest report was very mixed. It was not surprising that a downswing in auto sales after a strong August pulled down sales. And the same was expected for gasoline prices pulling down sales. But core sales eased despite a surge in electronics sales. But there was monthly volatility. Core sales eased after a very strong August. On a very positive note, food services & drinking places gained a robust 0.6 percent, matching the pace for August. This is a very discretionary component, suggesting that the consumer is still spending. Looking ahead, auto sales may add modestly to retail sales while lower gasoline price may pull down.
Retail sales in September declined 0.3 percent after jumping 0.6 percent in August. Excluding autos, sales slipped 0.2 percent after gaining 0.3 percent in August.. Excluding both autos and gasoline sales dipped 0.1 percent, following a jump of 0.5 percent in August. Expectations were for 0.5 percent. Within the core, softness was seen in declines furniture & home furnishings, building materials, nonstore retailers, clothing & accessories, and sporting goods & hobbies. Gains were posted for electronics & appliances (likely iPhones), health & personal care, general merchandise, and food services & drinking places. The latest report was very mixed. It was not surprising that a downswing in auto sales after a strong August pulled down sales. And the same was expected for gasoline prices pulling down sales. But core sales eased despite a surge in electronics sales. But there was monthly volatility. Core sales eased after a very strong August. On a very positive note, food services & drinking places gained a robust 0.6 percent, matching the pace for August. This is a very discretionary component, suggesting that the consumer is still spending. Looking ahead, auto sales may add modestly to retail sales while lower gasoline price may pull down.
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