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ECON: Retail Sales Stronger Than Expected
Posted to: Micro News
Thursday, December 12, 2013 8:44 AM
- Sales +0.7 vs +0.6 forecast, biggest rise since June
- Excluding Autos +0.4 vs +0.2 forecast
- Market Reaction: Bond markets weaker on this headline as Claims data (which was weaker) is easier to discount due to the holiday schedule causing more issues for the weekly report (whereas Sales is monthly).
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for November, adjusted for seasonal
variation and holiday and trading-day differences, but not for price changes, were $432.3 billion, an increase of 0.7 percent (±0.5%) from the
previous month, and 4.7 percent (±0.7%) above November 2012. Total sales for the September through November 2013 period were up 4.1
percent (±0.5%) from the same period a year ago. The September to October 2013 percent change was revised from +0.4 percent (±0.5%)* to
+0.6 percent (±0.3%).
Retail trade sales were up 0.6 percent (±0.5%) from October 2013, and 4.6 percent (±0.7%) above last year. Auto and other motor vehicle
dealers were up 10.9 percent (±2.1%) from November of 2012 and nonstore retailers were up 9.4 percent (±2.1%) from last year.
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