Tuesday, November 15, 2016

Retail Sales increased 0.8% in October

by Bill McBride on 11/15/2016 08:38:00 AM

On a monthly basis, retail sales increased 0.8 percent from September to October (seasonally adjusted), and sales were up 4.3% from October 2015.

From the Census Bureau report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $465.9 billion, an increase of 0.8 percent from the previous month, and 4.3 percent above October 2015. ... The August 2016 to September 2016 percent change was revised from up 0.6 percent to up 1.0 percent.
Retail Sales 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 were up 0.7% in October.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Year-over-year change in Retail Sales Retail and Food service sales ex-gasoline increased by 4.5% on a YoY basis.

The increase in October was above expectations and the previous two months were revised up; a very strong report.