September Retail Sales: Up 1.6% MoM
The Census Bureau's Advance Retail Sales Report for September released this morning showed a slight increase over the August figures. Headline sales came in at 1.6% month-over-month to one decimal. Today's headline number was slightly below the Investing.com consensus of 1.7%. Core sales (ex Autos) came in at 1.0% MoM. Figures were revised going back to August 2016.
Here is the introduction from today's report:
Advance estimates of U.S. retail and food services sales for September 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $483.9 billion, an increase of 1.6 percent (±0.5 percent) from the previous month, and 4.4 percent (±0.7 percent) above September 2016. Total sales for the July 2017 through September 2017 period were up 3.9 percent (±0.5 percent) from the same period a year ago. The July 2017 to August 2017 percent change was revised from down 0.2 percent (±0.5 percent)* to down 0.1 percent (±0.1 percent)*.
Retail trade sales were up 1.7 percent (±0.5 percent) from August 2017, and up 4.7 percent (±0.7 percent) from last year. Gasoline Stations were up 11.4 percent (±1.4 percent) from September 2016, while Building Materials and Garden Equipment and Supplies Dealers were up 10.7 percent (±2.1 percent) from last year. [view full report]
The chart below is a log-scale snapshot of retail sales since the early 1990s. The two exponential regressions through the data help us to evaluate the long-term trend of this key economic indicator.
The year-over-year percent change provides another perspective on the historical trend. Here is the headline series.
Here is the year-over-year version of Core Retail Sales.