by Calculated Risk on 12/11/2009 08:30:00 AM
Friday, December 11, 2009
On a monthly basis, retail sales increased 1.3% from October to November (seasonally adjusted), and sales are up 1.9% from November 2008.
Click on graph for larger image in new window.
This graph shows retail sales since 1992. This is monthly retail sales, seasonally adjusted (total and ex-gasoline).
This shows that retail sales fell off a cliff in late 2008, and appear to have bottomed, but at a much lower level.
The red line shows retail sales ex-gasoline and shows there has been only a little increase in final demand.
The second graph shows the year-over-year change in retail sales since 1993.
Retail sales increased by 1.9% on a YoY basis. The year-over-year comparisons are much easier now since retail sales collapsed in October 2008. Retail sales bottomed in December 2008.
Here is the Census Bureau report:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for November, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $352.1 billion, an increase of 1.3 percent (±0.5%) from the previous month and 1.9 percent (±0.5%) above November 2008. Total sales for the September through November 2009 period were down 2.1 percent (±0.3%) from the same period a year ago. The September to October 2009 percent change was revised from +1.4 percent (±0.5%) to +1.1 percent (±0.2%).It appears retail sales have bottomed, and there might be a little pickup in final demand.