Keeping you up to date on the latest data releases.
- Retail Sales
Retail sales edged up 0.2 percent in November following an upwardly revised 0.6 percent gain in October, and are up 6.8 percent on a year-over-year basis. While auto sales posted another fairly strong gain (up 0.7 percent in November) retail sales excluding that sector were still up 0.2 percent during the month. However, cross-category performance was mixed. The strongest gains were seen at electronics and appliance stores (up 2.1 percent) and nonstore retailers (up 1.5 percent) perhaps offering evidence of swifter-than-usual holiday sales. Those gains were partially offset by sales decreases in miscellaneous store retailers, building material and supplies dealers, and food and beverage stores.“Core” retail sales (sales excluding autos, building supplies, and gas stations)—a less noisy indicator of the trend in consumption growth—rose 0.2 percent in November, echoing the top-line figure. The 3-month annualized growth rate in core retail sales stands at 6.2 percent, continuing to hover just above its 12-month growth rate of 5.5 percent, which may be a tentative sign of continued strength.