Economic Update: U.S. Retail Sales

U.S. retail sales rose just 0.2% m/m in November, which was much weaker than the 0.6% expected by consensus though at least comes after October was upwardly revised to a 0.6% gain (previously up 0.5%). Auto sales were up 0.5% over October, and is up 7.5% over last year. Excluding auto sales, retail sales also rose just 0.2% m/m , also a disappointment, given consensus expected a 0.5% pace for the month. Total retail sales are still up 6.7% over last year, and are up 6.6%, excluding autos. Gasoline station sales were down 0.1% m/m but is still up 12.9% over last November. Electronics & appliance stores reported the largest monthly gains, rising 2.1% over October (up 6.4% over last year). Not surprisingly, nonstore retailers also showed strength, rising 1.5% over October, with year-over-year sales rising 13.9%, to finally surpass gasoline stations. The weaker than expected report had only a modest impact on markets ahead of the opening, as investors focused on better than expected data from Germany as they await the FOMC outcome today.

 

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  1. By What the FOMC Rate Decision Means for Real Estate on December 14, 2011 at 8:59 am

    […] Economic Update: U.S. Retail Sales […]

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