by Calculated Risk on 4/12/2013 08:49:00 AM
Friday, April 12, 2013
Retail Sales decline 0.4% in March
On a monthly basis, retail sales decreased 0.4% from February to March (seasonally adjusted), and sales were up 2.8% from March 2012. From the Census Bureau report:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $418.3 billion, a decrease of 0.4 percent from the previous month, but 2.8 percent above March 2012. ... The January to February 2013 percent change was revised from +1.1 percent to +1.0 percent (±0.2%).
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Sales for January were revised down too.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales are up 26.2% from the bottom, and now 11.2% above the pre-recession peak (not inflation adjusted)
Retail sales ex-autos decreased 0.4%. Retail sales ex-gasoline decreased 0.2%.
Excluding gasoline, retail sales are up 23.5% from the bottom, and now 10.4% above the pre-recession peak (not inflation adjusted).
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Retail sales ex-gasoline increased by 3.3% on a YoY basis (2.8% for all retail sales).
This was below the consensus forecast of no change in retail sales. Lower gasoline prices subtracted from retail sales - after boosting sales in February.