Friday, August 12, 2011

Retail Sales increased 0.5% in July

by Calculated Risk on 8/12/2011 08:30:00 AM

On a monthly basis, retail sales increased 0.5% from June to July (seasonally adjusted, after revisions), and sales were up 8.5% from July 2010. From the Census Bureau report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $390.4 billion, an increase of 0.5 percent from the previous month, and 8.5 percent above July 2010. ... The May to June 2011 percent change was revised from +0.1 percent to +0.3 percent.
Retail sales excluding auto also increased 0.5% in July.

Retail Sales Click on graph for larger image in graph gallery.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales seemed to stall in March, but are now moving higher again.

Retail sales are up 17.4% from the bottom, and now 3.2% above the pre-recession peak.

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 SalesRetail sales ex-gasoline increased by 6.9% on a YoY basis (8.5% for all retail sales).

The consensus was for retail sales to increase 0.6% in July, and for a 0.3% increase ex-auto.

The reported increase was slightly below expectations for total retail sales, however including the upward revision for June, this was a solid report.