The strong retail sales data released on Thursday showed just how much pent-up demand exists among consumers as stimulus checks burn a hole their pockets and vaccinations allow for the economy to open up. People, it is clear, are ready to get out of the house. Among the strong categories in the March data were spending on eating and drinking, which ... READ MORE >
Retail sales declined 3% in February, but brighter days are ahead
At first glance, the 3% monthly decline in retail sales for February would seem to be a cause for concern. But a look beyond the top-line number reported by the Commerce Department on Tuesday paints a more nuanced picture, one that suggests pent-up consumer demand and the prospect of stronger sales in the future. One reason for the monthly decline was the ... READ MORE >
CHART OF THE DAY: Retail sales surge 5.3% as consumers spend stimulus checks
Driven by the latest round of stimulus checks approved in late December, retail sales surged 5.3% in January from a monthly decline of 0.7% in December, the Commerce Department reported on Wednesday. The gains, which smashed economists’ consensus forecast of a 1.1% increase, were particularly strong in e-commerce (11%), furniture (12%) and electronics ... READ MORE >
The changing holiday shopping season
For many retailers, the recent holiday shopping season was unlike any other as they contended with the disruption of the pandemic and its effect on consumer behavior. The result was a more extended holiday shopping season this year by design. While the Commerce Department’s recent headline figure for retail sales dropped by 0.7% in December compared to ... READ MORE >
CHART OF THE DAY: Holiday sales off to a sluggish start
The holiday shopping season was off to a sluggish start in November as retail sales fell 1.1% compared to October, the Commerce Department reported on Wednesday. It was the biggest drop in seven months and well below analysts’ estimates of a modest gain. Retailers were hoping for a strong holiday season to help carry them through to the other side of the ... READ MORE >
CHART OF THE DAY: In the video game industry, it’s the most wonderful time
The arrival of the holiday shopping season has buoyed the hopes of retailers catering to a younger crowd, even as coronavirus cases continue to rise. This is especially the case with video games. The Entertainment Software Association, in a survey, found that 38% of people age 18 to 34 play video games on a regular basis. It’s also an ideal activity for ... READ MORE >
CHART OF THE DAY: Retail sales rose 0.3% in October, the slowest increase in six months
Retail sales in the United States grew at a 0.3% monthly rate in October, slower than analysts’ expectations of 0.5% and the slowest rate in six months. Yet there was still an increase for the month of 7.1% year over year overall and 5.3% year over year excluding autos, the Commerce Department reported on Tuesday. Some of the biggest gains in ... READ MORE >
CHART OF THE DAY: Consumer sentiment continues its climb back
The index of U.S. consumer sentiment index continued to climb back from the depths of the economic shutdown in April, the University of Michigan reported Friday. The index reached 78.9 in September, which was up from 74.1 in August and 71.8 in April. It was the second month in a row that the index had exceeded the consensus estimate, which was 75. The ... READ MORE >
CHART OF THE DAY: Retail sales rise amid soft back-to-school spending
Retail sales grew for the fourth month in a row in August, but the expected lift from back-to-school spending was not as great as anticipated. Retail sales rose by 0.6% from July to August, and by 0.1% compared to a year ago, the Commerce Department reported on Wednesday. Analysts had expected a 1% monthly gain. The muted bounce was most likely, in part, ... READ MORE >