• 15 hours Tech Billionaire Takes Aim At Google
  • 17 hours Chinese Police Bust Largest Ever Illicit Crypto Mining Operation
  • 20 hours Expect A Pullback Before Gold's Next Major Rally
  • 22 hours Why Interest On Gold Matters
  • 2 days Ten Extravagant Food Items For The Wealthy Only
  • 2 days Why Saudi Arabia Won't Give Up On The Aramco IPO
  • 3 days $32 Million Crypto Heist Halts Tokyo Exchange
  • 3 days Is A Gold Selloff Looming?
  • 4 days Central Banks Are Stashing Gold And Dumping Treasuries
  • 4 days Three Cannabis Trends Flying Under Investors’ Radars
  • 5 days $1.3 Billion In Cocaine Found On JPMorgan Vessel
  • 5 days Amazon Teams Up With Lady Gaga To Win Over Generation Z
  • 5 days Dollar Falls As Powell Teases Rate Cuts
  • 5 days Will The World's First Trillion Dollar Company Ever Bounce Back?
  • 6 days Many Americans Will Never Stop Working
  • 6 days Mozilla vs DarkMatter: The Cyber Espionage End Game
  • 6 days Chile Cracks Down On Environmental Infractions
  • 6 days Warning Signs Emerge For Boeing
  • 7 days First Amendment Stands Strong In Trump vs. Twitter Showdown
  • 7 days Musk Bullish On Tesla Despite Executive Exodus
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  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