by Bill McBride on 2/12/2015 08:40:00 AM
Thursday, February 12, 2015
On a monthly basis, retail sales decreased 0.8% from December to January (seasonally adjusted), and sales were up 3.3% from January 2014. Sales in December were unrevised at a 0.9% decrease.
From the Census Bureau report:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $439.8 billion, a decrease of 0.8 percent from the previous month, but up 3.3 percent above January 2014. ... The November to December 2014 percent change was unrevised from -0.9 percent.Click on graph for larger image.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline increased slightly.
Retail sales ex-autos decreased 0.9%.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail and Food service sales ex-gasoline increased by 6.9% on a YoY basis (3.3% for all retail sales).
The decrease in January was below consensus expectations of a 0.5% decrease. Sales for both November and December were revised up slightly.
Although weaker than expected, after removing the impact of lower gasoline prices, this was an OK report.
Posted by Bill McBride on 2/12/2015 08:40:00 AM