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Real US Retail Sales Tumble (Again) In September
US retail sales were expected to rise 0.2% MoM in September but instead were disappointedly unchanged. On a year-over-year basis, retail sales (nominal) rose 8.2%, the weakest since April chart Ex-Autos and Ex-Autos and Gas both rose more than expected (+0.1% vs -0.1% exp and +0.3% vs +0.2% exp respectively). On a YoY basis, core retail sales rose 6.6%., exactly in line with Core CPI's 6.6% YoY rise... chart The control group - which feeds directly into GDP - rose 0.4% MoM (above the +0.3% expectation). And finally, we remind readers that retail sales data is nominal - i.e. not adjusted for inflation. While we ... (full story)
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US Retail Sales Stagnate as Inflation, Rates Hit Consumers
US retail sales were sluggish last month, suggesting shoppers are becoming more guarded about discretionary purchases in the worst inflationary environment in decades. The value of overall retail purchases were little changed in September after an upwardly revised 0.4% gain in August, Commerce Department data showed Friday. Excluding gasoline, retail sales were up 0.1%. The figures aren’t adjusted for inflation. The median estimate in a Bloomberg survey of economists called for a 0.2% advance in retail sales. Seven of 13 retail categories declined last month, according to the report, including a drop in receipts at ... (full story)