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Wednesday, November 15, 2023

Retail Sales Decreased 0.1% in October

by Calculated Risk on 11/15/2023 08:30:00 AM

On a monthly basis, retail sales were down 0.1% from September to October (seasonally adjusted), and sales were up 2.5 percent from October 2022.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for October 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $705.0 billion, down 0.1 percent from the previous month, and up 2.5 percent above October 2022. ... The August 2023 to September 2023 percent change was revised from up 0.7 percent to up 0.9 percent.
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 was down 0.1% in October.

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 3.5% on a YoY basis.

Year-over-year change in Retail Sales The decrease in sales in October was above expectations, and sales in August and September were revised up, combined.