• 318 days Could Crypto Overtake Traditional Investment?
  • 323 days Americans Still Quitting Jobs At Record Pace
  • 325 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 328 days Is The Dollar Too Strong?
  • 328 days Big Tech Disappoints Investors on Earnings Calls
  • 329 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 331 days China Is Quietly Trying To Distance Itself From Russia
  • 331 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 335 days Crypto Investors Won Big In 2021
  • 335 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 336 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 338 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 339 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 342 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 343 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 343 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 345 days Are NFTs About To Take Over Gaming?
  • 346 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 349 days What’s Causing Inflation In The United States?
  • 350 days Intel Joins Russian Exodus as Chip Shortage Digs In
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

  1. Home
  2. Markets
  3. Other

Retail Sales Jump 0.8% but Expect More Store Closings

A December rate hike is all but baked in the cake after today's retail sales report. Sales rose a solid 0.8% in October and that is on top of an upward revision from 0.6% to 1.0% for September.


Dollar Basis

Retail Sales

Total sales estimates are shown in millions of dollars and are based on data from the Advance Monthly Retail Trade Survey, Monthly Retail Trade Survey, and administrative records.

On a US dollar basis the top six sales categories look like this.

  1. Motor Vehicles and Parts: $96,815
  2. Food and Beverage Stores: $59,694
  3. Food Service and Drinking Places: $55,009
  4. General Merchandise Stores: $55,009
  5. Nonstore Retailers: $48,242
  6. Gasoline Stations: $34,816

The obvious conclusion is people like to eat, drink, and drive. Note that nonstore retailers are closing in on general merchandise stores.


Percentage Growth

Retail Sales; Percentage Growth

Month-over month the only down categories were food service and drinking places, furniture, and department stores.

Gasoline sales were up a huge 2.2% but that will go negative next month. Once again motor vehicles led the way.

Year-over-year, the down categories were electronic and appliance stores, general merchandise stores and department stores.

The year-over-year numbers and nonstore growth suggest more store closings and fewer store openings, a key driver of jobs and inventory builds.

 

Back to homepage

Leave a comment

Leave a comment