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Wednesday, January 18, 2023

Retail Sales Decreased 1.1% in December

by Calculated Risk on 1/18/2023 08:40:00 AM

On a monthly basis, retail sales were down 1.1% from November to December (seasonally adjusted), and sales were up 6.0 percent from December 2021.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for December 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $677.1 billion, down 1.1 percent from the previous month, but up 6.0 percent above December 2021.
emphasis added
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 down 0.8% in December.

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 6.8% on a YoY basis.

Year-over-year change in Retail Sales Sales in December were below expectations, and sales in October and November were revised down, combined.