Retail Sales in USA
USA - Retail Sales
Retail sales rebound marginally in January
Nominal retail sales rose 0.2% on a seasonally-adjusted month-on-month basis in January, recovering marginally from December’s downwardly revised 1.6% sharp plunge (previously reported: -1.2% month-on-month), and mildly beating market expectations of a flat print. Nevertheless, retail sales excluding automobiles, gasoline, building materials and food services—also known as “core” retail sales as they most closely reflect private consumption in GDP—rebounded 1.1% in January (December: -2.3% month-on-month). January’s result suggests consumer spending likely hit a soft patch in the first quarter of the year, and coupled with other recently-released weak data, including February’s feeble job growth, point to a cooling economy. Nevertheless, retail sales could still pick up in the months ahead, boosted by individual tax returns.
The recovery in January came on the back of increased consumer spending across the majority of categories such as food and beverage, and health and personal care sales, as well as spending at brick-and-mortar stores. Moreover, non-store retail sales, which includes online shopping, also recovered notably in the month after falling to an over-decade low in December. Nevertheless, the headline print was significantly dragged on by the steepest contraction in motor vehicle and parts sales in five years, and contractions, albeit softer ones, in spending at gasoline stations, and clothing and accessories stores.
In annual terms, growth in retail sales came in at 2.3% in January, up from the revised 1.6% increase recorded in December (previously reported: +2.3% year-on-year). Lastly, annual average retail sales growth fell to 4.7% in January from 4.9% in December.
FocusEconomics Consensus Forecast panelists expect private consumption to grow 2.5% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, the panel sees private consumption increasing 2.0%.
United States - Retail Sales Data
|Retail Sales (annual variation in %)||3.6||4.3||2.6||3.1||4.3|
5 years of economic forecasts for more than 30 economic indicators.
United States Retail Sales Chart
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|Bond Yield||2.64||-0.43 %||Mar 11|
|Exchange Rate||1.12||0.65 %||Mar 11|
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March 12, 2019
Consumer prices increased 0.2% over the prior month in February, accelerating from the flat print recorded in January and matching market expectations.
March 11, 2019
Nominal retail sales rose 0.2% on a seasonally-adjusted month-on-month basis in January, recovering marginally from December’s downwardly revised 1.6% sharp plunge (previously reported: -1.2% month-on-month), and mildly beating market expectations of a flat print.
United States: Weak February jobs report nonetheless sees wage pressures rising; confirms strong January reading
March 8, 2019
The February jobs report released by the Bureau of Labor Statistics (BLS) shows payrolls barely budged in the month after a strong start of the year, adding to concerns about an economic slowdown.
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March 1, 2019
The U.S. manufacturing sector continued to seesaw in the first months of 2019, losing ground in February after sharply recovering in the previous month from a year-end slump.
February 28, 2019
According to an initial estimate of fourth quarter GDP released by the Bureau of Economic Analysis (BEA), the economy continued to soften at the end of 2018, but nevertheless performed better than expected on a robust outturn of business spending.