Highlights of the November 2014 US retail sales data report
- Prior 0.3%. Revised to 0.5%
- Retail sales control group 0.6% vs 0.4% exp m/m. Prior 0.5%
- Ex-autos 0.5% vs 0.1% exp m/m. Prior 0.3%. Revised to 0.4%
- Ex-autos & gas 0.6% vs 0.6% prior. Revised to 0.7%
It may be a beat of expectations but for this time of year we would want to see stronger numbers than this. USD/JPY had a half hearted move to 118.63 but has given that up by 8 pips just as quick. In my view this is not a bullish report.
Looking through the numbers you can see the seasonality shopping. Electronics +0.9% vs -1.0% prior, building and gardening equip +1.4% vs 0.4% prior (snow shovels and plows?
), clothing +1.2% vs 0.6% prior.
Food and drink sales rose a pip to 0.3%. Sporting goods fell to 0.3% from 1.8%
Department stores rose 1.0% vs -0.3% prior and it’s here you’d want to see some really decent gains if consumers were out spending.
US retail sales details 11 12 2014
Looking at the yearly numbers maybe I’m being a bit too harsh on the report. I’d still have liked to have seen at least a gain of 1%+ m/m to think it was a good report.
US retail sales 11 12 2014
