In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Wednesday, January 17, 2024

Retail Sales Increased 0.6% in December

by Calculated Risk on 1/17/2024 08:30:00 AM

On a monthly basis, retail sales were up 0.6% from November to December (seasonally adjusted), and sales were up 5.6 percent from December 2022.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for December 2023, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $709.9 billion, up 0.6 percent from the previous month, and up 5.6 percent above December 2022. Total sales for the 12 months of 2023 were up 3.2 percent (±0.4 percent) from 2022. ... The October 2023 to November 2023 percent change was unrevised from up 0.3 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 up 0.7% 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 6.5% on a YoY basis.

Year-over-year change in Retail Sales The increase in sales in December was above expectations, and sales in October and November were mostly unrevised (combined).