Retail Sales Fell 0.4% in January as Lagging Auto Sales Weigh
The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for January, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $427.8 billion, a decrease of 0.4 percent (±0.5 percent) from the previous month, but 2.6 percent (±0.9 percent) above January 2013. The Street was looking for a flat reading. Total sales for the November 2013 through January 2014 period were up 3.4 percent (±0.5 percent) from the same period a year ago. The November to December 2013 percent change was revised from +0.2 percent (±0.5 percent) to -0.1 percent (±0.3 percent).
Retail trade sales were down 0.4 percent (±0.5 percent)* from December 2013, but 2.6 percent (± 1.1 percent) above last year. Nonstore retailers were up 6.5 percent (±2.3 percent) from January 2013 and auto and other motor vehicle dealers were up 4.1 percent (±3.2 percent) from last year.
Sequentially, motor vehicles and parts dealers saw a 2.1 percent drop, clothing and clothing accessories stores saw a 0.9 percent drop, and sporting goods, hobby, book & music stores saw a drop of 1.4 percent in January 2014.
Below is a chart outlining year-over-year and sequential changes for the month of January:
Retail trade sales were down 0.4 percent (±0.5 percent)* from December 2013, but 2.6 percent (± 1.1 percent) above last year. Nonstore retailers were up 6.5 percent (±2.3 percent) from January 2013 and auto and other motor vehicle dealers were up 4.1 percent (±3.2 percent) from last year.
Sequentially, motor vehicles and parts dealers saw a 2.1 percent drop, clothing and clothing accessories stores saw a 0.9 percent drop, and sporting goods, hobby, book & music stores saw a drop of 1.4 percent in January 2014.
Below is a chart outlining year-over-year and sequential changes for the month of January:
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