Road to Depression

Retail sales growth tumbles to 6-month lows!

on . Posted in Road to Depression

NEW YORK (PNN) - September 15, 2016 - Year-over-year growth in retail sales rose just 1.9% (its weakest since March's plunge) and worryingly in historical recession territory. MoM data was disappointing across the entire spectrum with actual contractions versus expectations of gains (Core -0.1% vs +0.3% exp, and Control -0.1% vs +0.4% exp). While clothing and food services saw spending increases, a drop in gasoline spending along with a tumble in retailers down 2.4% MoM and sporting goods weighed the overall index down. Retail sales less autos fell 0.1% in Aug., est. 0.2%.

Retail sales fell to $456.321b in Aug. vs $457.669b in July.

Retail sales ex-auto dealers, building materials and gasoline stations unchanged in August.

Retail sales ‘control group’ fell 0.1% m/m in Aug., est +0.4%.

The July bounce is over.

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