|This email was sent to you by:|
Tonya W. Kenon |
Mortgage News Daily
Email alerts, such as this one, are a free service
provided by Mortgage News Daily. If you would like to receive an alert when important news breaks
please register to join our community
ECON: Retail Sales Weaker Than Expected
Posted to: Micro News
Wednesday, November 14, 2012 8:51 AM
- Retail Sales down -0.3 pct vs -0.2 pct consensus and +1.3 pct in September. Markets expected weaker results as the end of October was impacted by Hurricane Sandy, but even when the most affected sectors are factored out, the results were still weaker-than-expected.
The Commerce department noted the effects of the Hurricane, but said those effects cannot be isolated and had received indications of both positive and negative effects on sales.
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for October, adjusted for
seasonal variation and holiday and trading-day differences, but not for price changes, were $411.6 billion, a decrease of 0.3 percent
(±0.5%)* from the previous month, but 3.8 percent (±0.7%) above October 2011. Total sales for the August through October 2012
period were up 4.7 percent (±0.5%) from the same period a year ago. The August to September 2012 percent change was revised
from 1.1 percent (±0.5%) to 1.3 percent (±0.2%).
Retail trade sales were down 0.3 percent (±0.5%)* from September 2012, but 3.8 percent (±0.8%) above last year. Gasoline stations
sales were up 7.7 percent (±1.7%) from October 2011 and nonstore retailers were up 7.2 percent (±3.0%) from last year.
More from MND:
If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.