Wednesday, September 14, 2011

Retail Sales flat in August

by Calculated Risk on 9/14/2011 08:30:00 AM

On a monthly basis, retail sales were flat from July to August (seasonally adjusted, after revisions), and sales were up 7.2% from August 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 August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $389.5 billion, virtually unchanged (±0.5%)* from the previous month and 7.2 percent (±0.7%) above August 2010.
Retail sales excluding autos increased 0.1% in August. Sales for and June and July were revised down.

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 are up 17.1% from the bottom, and now 2.9% 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 5.7% on a YoY basis (7.2% for all retail sales).

The consensus was for retail sales to increase 0.2% in August, and for a 0.3% increase ex-auto.

This was another weak report for August.