US retail sales unexpectedly decline in a sign that consumer economy could be cracking
Source: CNBC
ECONOMY
US retail sales unexpectedly decline in a sign that consumer economy could be cracking
PUBLISHED 4 HOURS AGO UPDATED 37 MIN AGO
Thomas Franck
https://twitter.com/tomwfranck
KEY POINTS
-- U.S. retail sales fell for the first time in seven months in September.
-- The report could raise fears that manufacturing-led weakness was spreading to the broader economy.
-- The U.S. government said retail sales dropped 0.3% as households slashed spending on building materials, online purchases and especially automobiles.
U.S. retail sales fell for the first time in seven months in September, raising fears that a slowdown in the American manufacturing sector could be starting to bleed into the consumer side of the economy.
The Commerce Department said Wednesday that retail sales dropped 0.3% last month as households slashed spending on building materials, online purchases and especially automobiles. The decline was the first since February.
Data for August was revised up to show retail sales gaining 0.6% instead of 0.4% as previously reported. Economists polled by Reuters had forecast retail sales would climb 0.3% in September. Compared with September of last year, retail sales increased 4.1%.
"While this is by no means conclusive evidence that the consumer is wavering (after all, the upward revisions reduce the impact of September's declines), it nonetheless reinforces our ongoing concern that a spending retrenchment will ultimately trigger a more durable slowdown," wrote Ian Lyngen, head of rates research at BMO Capital Markets.
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Read more: https://www.cnbc.com/2019/10/16/us-retail-sales-september-2019.html
https://www.census.gov/retail/index.html
Advance Monthly Retail Trade Report
The September 2019 Advance Monthly Sales for Retail Trade and Food Services report was released on October 16, 2019 at 8:30 a.m., and available as:
Full Publication in Excel [113KB] PDF [751KB]
Time Series (Adjusted Sales Data/Seasonal Factors--1992 to present)
https://www.census.gov/retail/marts/www/marts_current.xls
https://www.census.gov/retail/marts/www/marts_current.pdf
https://www.census.gov/retail/marts/www/timeseries.html
-- -- -- -- -- --
Monthly Retail Trade Report
The August 2019 Monthly Retail Trade and Food Services report was released on October 16, 2019 at 8:30 a.m. for sales and 10:00 a.m. for inventories, and available as:
Retail and Food Services Sales: Excel (1992-present) [735KB]
Retail Inventories and Inventories/Sales Ratios: Excel (1992-present) [455KB]
Adjustment Factors for Seasonal and Other Variations of Monthly Estimates: Sales [8KB] Inventories [3KB]
Reliability of Monthly Estimates: Sales [13KB] Inventories [3KB]
Annual Revision of Monthly Retail and Food Services: Sales and Inventories--January 1992 through May 2019
{I snipped the links. You can find them.}
CrispyQ
(36,457 posts)How long can it last?
A week or so ago someone posted a story about a hedge fund manager who doesn't like Trump, but stated he would vote for Trump of Elizabeth Warren is the dem nominee. He would rather vote for someone who will take down the entire economy than vote for someone who will make him share the wealth.
mahatmakanejeeves
(57,393 posts)no_hypocrisy
(46,080 posts)Monday afternoon about 4 p.m. Same with Macy's.
OTOH, the new anchor store, a high-end food store was swarming with customers
mahatmakanejeeves
(57,393 posts)U.S. Retail Sales Fell in September
Sales fell 0.3% from August in first monthly decline since February
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Firestorm49
(4,032 posts)Instead of loading the pockets of the filthy rich with more money, how about taxing them in such a way that more money will end up in the hands of the under-represented American public - the result being that someone might go out and buy a new refrigerator, or car, or more food, or a house. The American consumer will demand more goods and services, which will create more employment in factories, more goods being produced, more demand for those goods, and an upward moving economy where we can ALL participate. But that is a mere pipe dream, a remnant of past more successful days.
Rather, we are all struggling more, saving less, having our safety nets threatened, and living a lower standard of life. Sounds pretty stupid, huh? One would think that the obvious is being intentionally sabotaged for rich, who need it the least. Thats reality, and it stinks. Im not advocating getting something for nothing. I am advocating the return to common sense.
This economy can grow if we want it to. The economic numbers that we are seeing largely reflect piss poor, low paying jobs. Were being thrown a bone and perception management is telling us that were damn lucky to get the bone.......and boy, we sure are.
Put money in peoples pockets, sit back, and watch the economy grow. Or, sit back and continue to watch the diabolical Republican vision of America eat us alive.
The Mouth
(3,148 posts)"The money was all appropriated for the top in the hopes that it would trickle down to the needy. Mr. Hoover didnt know that money trickled up. Give it to the people at the bottom and the people at the top will have it before night, anyhow. But it will at least have passed through the poor fellows hands"
IronLionZion
(45,427 posts)Farmers and many factory workers have been screwed in Trump's trade wars, and would likely cut back on purchases.
Many elderly who depend on interest income have not seen much benefit from low interest rates, and would likely not purchase much.
There are plentiful jobs in certain fields and geographic areas but others are left out. Those folks would purchase less.
bucolic_frolic
(43,128 posts)Aren't we more than that, even to "them"?
People do rational things. They know a hard blizzard is coming. They have what they need, by and large, because they've been spending for several years. They also remember the Great Recession.
Building materials? Is a house an investment? Only when prices go up, and that depends on location, location, location, and the age of the house.
Automobiles? Do they really call them that anymore? Vehicles. SUV's and pickup trucks. Never a car, so how do you call them automobiles? Are they an investment? Not last time I looked. Durability and value is all that counts, and most fall short.
Online purchases? Sales Taxes. Shipping rate hikes. Quality. Cheap importeed junk. Sales are down. I can't imagine the concept of down. You mean people, sorry, consumers, have had enough of that garbage?