by Bill McBride on 5/13/2013 08:30:00 AM
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Monday, May 13, 2013
On a monthly basis, retail sales increased 0.1% from March to April (seasonally adjusted), and sales were up 3.7% from April 2012. From the Census Bureau report:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $419.0 billion, an increase of 0.1 percent from the previous month, and 3.7 percent above April 2012. ... The February to March 2013 percent change was revised from -0.4 percent to -0.5 percent.Click on graph for larger image.
Sales for February and March were revised up.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales are up 26.4% from the bottom, and now 10.6% above the pre-recession peak (not inflation adjusted)
Retail sales ex-autos decreased 0.1%. Retail sales ex-gasoline increased 0.7%.
Excluding gasoline, retail sales are up 24.0% from the bottom, and now 11.4% above the pre-recession peak (not inflation adjusted).
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail sales ex-gasoline increased by 4.7% on a YoY basis (3.7% for all retail sales).
This was above the consensus forecast of 0.3% decline in retail sales. Retail sales ex-gasoline (gasoline prices declined in April) were up 0.7% .
Posted by Bill McBride on 5/13/2013 08:30:00 AM