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 >
retail sales
Retail sales rose 7.5% in June as economies reopened
June retail sales were strong for a second straight month, fueled by the reopening of economies across the country and the continuation of pent-up demand from lockdowns earlier in the year. Overall retail sales rose by 7.5% in June, which followed May's record 18.2% gain, the Commerce Department reported on Thursday. June's gains were heavily weighted ... READ MORE >
May retail sales soar, but will it continue?
Retail sales soared by 17.7% in May, the biggest month-over-month increase on record, the Commerce Department reported on Tuesday. The May figures, which easily beat analysts’ estimates but are still below pre-pandemic levels, was most likely fueled by a combination of pent-up demand and stimulus checks received in late April and early May. While ... READ MORE >
U.S. retail sales: April really was the cruelest month
John Maynard Keynes’ paradox of thrift is increasingly becoming a much larger part of the economic narrative in the United States as households prepare for an extended economic slowdown, elevated unemployment and loss of income. During March, the U.S. savings rate jumped to 13.1%, which did not bolster retail sales as Americans continued to shelter in ... READ MORE >
Amid chaos of coronavirus, food and beverage sector continues to adapt
The retail sales figures released this week painted a grim picture of consumer spending and the state of the economy amid the mounting human and economic toll of the coronavirus. But a deeper look at the data reveals some profound changes taking place that will most likely endure once the pandemic passes. While retail sales fell off the table with an 8.7% ... READ MORE >
Retail sales declined 8.7% in March, with more distress to come
The condition of the American consumer is impaired and will be for some time. The combination of soaring unemployment and shelter-in-place policies across the economy sent U.S. retail sales down 8.7% in March. The core ex-autos number declined by 4.5%, while the ex-gasoline metric dropped by 8%, all of which point to what in the first six months of the ... READ MORE >
U.S. retail sales declined in February amid coronavirus uncertainty
Consumers pulled back across the board on spending in February as the onset of the coronavirus began to shape household expectations about the economy and society. Top-line sales declined by 0.5% while the control group that feeds into the estimation of gross domestic product was flat on the month. Excluding auto sales, which declined by 0.4%, and excluding ... READ MORE >
Retail sales close out year on a positive note
The health of the American consumer remains strong as outlays on retail sales closed out the year on a positive note with plenty of room for upward revisions. U.S. December advance retail sales increased 0.3% on a month-over-month basis and was up 6% on a year-ago basis. The control group that is used to estimate household spending inside the GDP ... READ MORE >
November retail sales not full of holiday cheer
The traditional holiday sales did not get off a robust start in November, which was most likely because of a late Thanksgiving holiday that pushed some spending into December. After peaking in mid-2019, overall retail sales will need to pick up in December to support growth anywhere near 2% in the current quarter. Given the noise around the data series ... READ MORE >
U.S. retail sales grew at a healthy 0.3% in October
The U.S. household continues to demonstrate strength through domestic retail sales, though at a decelerating pace. The October increase of 0.3 percent in top-line retail sales and the control estimate that feeds into the calculation of domestic gross domestic product reaffirm that the consumer remains on a solid footing heading into the critical holiday ... READ MORE >