September Retail Sales: Up 0.1 Percent; Previous Month Revised From +0.2 Percent to Zero
The predictions were for an overall rise of 0.2 percent and for a 0.1 – 0.2 percent decline “ex-auto.”
Here are the opening paragraphs from the Census Bureau’s 8:30 a.m. release (bolds are mine):
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for September, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $447.7 billion, an increase of 0.1 percent (±0.5%)* from the previous month, and 2.4 percent (±0.7%) above September 2014. Total sales for the July 2015 through September 2015 period were up 2.3 percent (±0.5%) from the same period a year ago. The July 2015 to August 2015 percent change was revised from +0.2 percent (±0.5%)* to virtually unchanged (±0.2%)*.
Retail trade sales were virtually unchanged (±0.5%)* from August 2015, and 1.7 percent (±0.7%) above last year. Motor vehicle and parts dealers were up 8.8 percent (±2.6%) from last year and food services and drinking places were up 7.9 percent (±3.5%) from September 2014.
That’s two very flat months after an increase of 0.7 percent in July, which is more evidence that the economy is slowing down.
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UPDATE: Zero Hedge has the “ex-autos” figure (bold is theirs) —
Retail Sales (ex Autos) dropped 0.3% in September, the 2nd drop in a row, the biggest drop since January (at the heart of the weather-driven economic weakness).
… Year-over-year data shows sustained stagnant growth in retail sales historically aligned with a recessionary environment.
… most notably, retail sales dropped in 7 of 13 major categories including:
- Electronics and appliance stores -0.2%
- Building Materials and Supplies -0.3%
- Food and beverage -0.3%
- Gasoline stations -3.2%
- General merchandise stores -0.1%
- Miscellaneous store retailers -1.3%
- Online -0.2%
