US Retail Sales Post Biggest Drop in 11 Months

US retail trade fell unexpectedly by 0.3 percent month-over-month in January 2018, after showing no growth in December and below market expectations of a 0.2 percent gain. It was the largest decline in retail trade since February last year.
US Census Bureau | Joana Ferreira | 2/14/2018 2:07:30 PM
5 of 13 major retail categories showed month-over-month decreases: motor vehicle & parts dealers (-1.3 percent vs -0.1 percent in December); gardening and building material stores (-2.4 percent vs 0.7 percent); furniture & home furniture stores (-0.4 percent vs -1.1 percent); health & personal care stores (-1.2 percent vs -0.8 percent); and sporting goods, hobby, book & music stores (-0.8 percent vs -3.4 percent).

Meanwhile, sales at service stations rose 1.6 percent last month, after a 0.3 percent gain in December. Additional upward pressure came from: electronics & appliance stores (0.5 percent vs -2 percent); clothing & clothing accessories stores (1.2 percent vs -1.2 percent); miscellaneous store retailers (1.6 percent vs -2.6 percent); and general merchandise stores (0.2 percent vs 0.3 percent).

Sales were unchanged at food & beverage stores (vs 0.4 percent in December), nonstore retailers (vs 0.5 percent) and food services & drinking places (vs 0.9 percent).

Excluding automobiles, gasoline, building materials and food services, retail sales were unchanged last month after a downwardly revised 0.2 percent drop in December.

Year-on, year, retail trade grew 3.6 percent.

US Retail Sales Post Biggest Drop in 11 Months