December 2016 retail sales increased by 0.6% and are up a whopping 4.1% from a year ago. November's retail sales were revised to a 0.2% monthly increase. The reason for December's gain were automobile sales, online sales and gas. Auto sales blew through the roof at a 2.4% monthly increase and gas did also on rising prices. Without autos & parts sales, retail sales would have increased only 0.2% for the month.
July 2016 retail sales were a real Wall Street let down as there was no change from June. Gasoline sales plunged by -2.7%, yet most retailers had declining sales. Auto sales and Amazon prime day were not enough to salvage overall retail sales. Without autos & parts sales, retail sales would have dropped by -0.3% for the month.
The June personal income and outlays report shows a 0.4% increase in consumer spending. When adjusted for inflation, consumer spending rose 0.3%. Personal income increased 0.2% while real disposable income increased 0.1% for the month. This is decent growth in PCE. From a year ago, real consumer spending has increased 2.8% while real disposable income has increased 2.2%.
April 2016 retail sales really popped up as auto sales roared. Retail sales increased 1.3% for the month and auto dealers sales surged by 3.5%. Without autos & parts sales, retail sales still had a great showing with a monthly 0.8% gain. Gasoline station sales have also shot up as prices rose, a 2.2% increase for the month.
The February 2016 Retail Sales report shows retail sales decreased -0.1% for the month as gasoline sales plunged by -4.4%. Without autos & parts sales, retail sales still decreased by -0.1%. Gasoline sales have dropped -15.6% from a year ago. Declining gasoline sales are once again responsible for the disappointing figures, as without gas stations considered, retail sales increased by a modest 0.2%.
The November 2015 Retail Sales report shows retail sales increased 0.2% for the month as auto sales slid by -0.6% and gasoline sales declined -0.8%. Without autos & parts sales, retail sales increased 0.4%.
The October 2015 Retail Sales report shows retail sales increased 0.1% for the month as auto sales slid by -0.5%. Without autos & parts sales, retail sales increased 0.2%. Gasoline sales declined by -0.9%. Gasoline sales have plunged by 20.1% from a year ago. Declining gasoline sales are not responsible for such weak consumer demand, for without gas stations considered, retail sales only rose by 0.1%.
The July personal income and outlays report shows a 0.3% increase in consumer spending. When adjusted for inflation, consumer spending rose 0.2%. Personal income increased 0.4% while real disposable income also increased 0.4% for the month. This is moderate growth. Wages also seem to be finally picking up.
The May personal income and outlays report shows a massive increase of 0.9% in consumer spending, which is great news for economic growth. Adjusted for inflation consumer spending rose 0.6%. Personal income also increased 0.5% Real disposable income increased 0.2% for the month.
April Retail Sales has assuredly disappointed Wall Street and is just one report in a series indicating the U.S. economy has gone into standby mode. Retail sales had no growth and even excluding gasoline sales only grew 0.1%. Autos & parts dropped -0.4% for the month. Without autos & parts sales, April retail sales increased 0.1%. Gasoline sales declined by -0.7%.
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