Daily Management Review

Retail Sales in the US Rose Less Compared to Forecasts


11/13/2015


US retail sales in October this year increased by 0.1% compared with the previous month, according to the Ministry of Commerce. Experts surveyed by Bloomberg expected a more significant growth rate - 0.3%.



pixabay.com
pixabay.com
In September, retail sales also rose by 0.1%; the rate for that month was revised.

Retail sales excluding autos, gasoline and building materials (so-called "control group") are an indicator used to calculate the US GDP. In October, they rose by 0.2%, meanwhile analysts were expecting an increase of 0.4%. According to revised data, in September the index rose by 0.1%, whereas the previously reported statistics showed decline by the same amount.

Retail sales excluding autos rose last month by 0.2% after falling 0.4% in September. The October figure was below expectations: experts had expected growth of 0.4%.

Residents of the United States are not seeking to increase their spending in anticipation of the holiday season. The customer behavior was not affected even by high employment growth (which is maximum for 10 months) and the opportunity to save on fuel. According to experts, the purchasing mood of citizens can be pressed by expectations of a speedy increase in credit costs, preparing by the Federal Reserve (Fed).

David Sloan, senior economist at 4Cast Inc., says: "Typically, fall in gasoline prices has delayed impact on retail sales. I think that sales in the coming holiday season will be good."

Manufacturers of building materials (0.9%) and furniture (0.4%) recorded the highest rate of growth in retail sales in October. Car sales fell by 0.5%, electronics - by 0.4%, gasoline in dollar terms - by 0.9%, food and beverage - 0.3%. Sales of clothing in the last month have not changed compared to September.

source: wsj.com






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