US Retail Sales Rise Much Less than Anticipated
Retail sales in the United States edged up 0.1 percent month-over-month in September of 2018, the same as in the previous month and well below market expectations of a 0.6 percent rise. Spending at restaurants and bars went down 1.8 percent, the most since December of 2016.
10 of 13 major retail categories showed month-over-month increases and 3 fell.
Sales went down at food services and drinking places (-1.8 percent compared to 0.3 percent in August); gasoline stations (-0.8 percent compared to 1.1 percent); and health and personal care stores (-0.3 percent compared to 0.5 percent). On the other hand, increases were seen in furniture and home furniture stores (1.1 percent compared to -0.8 percent); nonstore retailers (1.1 percent compared to 0.5 percent); electronics and appliance stores (0.9 percent compared to 0.6 percent); motor vehicles and part dealers (0.8 percent compared to -0.5 percent); sporting goods, hobby, musical instrument and book stores (0.7 percent compared to -0.5 percent); clothing and accessories stores (0.5 percent compared to -2.8 percent); general merchandise stores (0.3 percent compared to 0.1 percent); food and beverages stores (0.2 percent compared to -0.3 percent); building material and garden equipment (0.1 percent compared to 0.8 percent); and miscellaneous store retailers (0.1 percent compared to 2.7 percent).
Excluding autos, sales fell 0.1 percent (0.2 percent in August) and excluding automobiles, gasoline, building materials and food services, core retail sales went up 0.5 percent in September after a downwardly flat reading in August.
Year-on-year, retail trade rose 4.7 percent in September, compared with a downwardly revised 6.5 percent increase in August and the lowest annual gain in seven months.
Considering the third quarter of the year, retail sales rose 1.3 percent over the previous three-month period and 5.9 percent over a year earlier.
10/15/2018 1:04:31 PM