Archive for November, 2019

US Retail Sales Rebound in October 2019

US Retail Sales Rebound in October

US retail trade rose 0.3 percent from a month earlier in October 2019, reversing a 0.3 percent drop in September and beating market expectations of 0.2 percent.

 

5 of 13 major retail categories showed month-over-month increases.

Receipts at motor vehicle & parts dealers rose 0.5 percent in October (vs -1.3 percent in September) and those at gasoline stations climbed 1.1 percent (vs -0.1 percent in September) on the back of higher fuel prices. There was also a rebound in sales at food & beverage stores (0.5 percent vs -0.6 percent) and general merchandise stores (0.4 percent vs -0.4 percent), while online and mail-order retail sales increased at a faster pace (0.9 percent vs 0.2 percent).

In contrast, spending at furniture stores fell at the fastest pace since December 2018 (-0.9 percent vs 0.7 percent), and receipts at restaurants and bars dropped by the most in nearly a year (-0.3 percent vs 0.8 percent). Declines were also seen at electronics and appliance stores (-0.4 percent vs 0.1 percent), building material stores (-0.5 percent vs -1.8 percent), clothing stores (-1.0 percent vs 0.3 percent), hobby, musical instrument and book stores (-0.8 percent vs -0.1 percent), and miscellaneous store retailers (-0.6 percent vs -0.2 percent). Sales at health and personal care stores were unchanged, after a 0.6 percent growth in September.

Excluding automobiles, gasoline, building materials and food services, retail sales were 0.3 percent higher last month, recovering from the 0.1 percent decline seen a month earlier.

Year-on-year, retail sales grew 3.1 percent, compared to 4.1 percent in the previous month.

 

https://tradingeconomics.com/united-states/retail-sales

ISM Non Manufacturing October 2019

US Services Activity Growth Above Forecast: ISM

The ISM Non-Manufacturing PMI for the US rose to 54.7 in October 2019 from a near three-year low of 52.6 in the previous month and above market consensus of 53.5. Business activity, employment and new orders all grew at faster rates.

 

“The NMI® registered 54.7 percent, which is 2.1 percentage points above the September reading of 52.6 percent. This represents continued growth in the non-manufacturing sector, at a faster rate. The Non-Manufacturing Business Activity Index increased to 57 percent, 1.8 percentage points higher than the September reading of 55.2 percent, reflecting growth for the 123rd consecutive month. The New Orders Index registered 55.6 percent; 1.9 percentage points higher than the reading of 53.7 percent in September. The Employment Index increased 3.3 percentage points in October to 53.7 percent from the September reading of 50.4 percent. The Prices Index decreased 3.4 percentage points from the September reading of 60 percent to 56.6 percent, indicating that prices increased in October for the 29th consecutive month. According to the NMI®, 13 non-manufacturing industries reported growth. The non-manufacturing sector had an uptick in growth after reflecting a pullback in September. The respondents continue to be concerned about tariffs, labor resources and the geopolitical climate.”

The 13 non-manufacturing industries reporting growth in October — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Utilities; Professional, Scientific & Technical Services; Transportation & Warehousing; Real Estate, Rental & Leasing; Management of Companies & Support Services; Health Care & Social Assistance; Accommodation & Food Services; Arts, Entertainment & Recreation; Construction; Finance & Insurance; Public Administration; and Information. The five industries reporting a decrease are: Educational Services; Other Services; Retail Trade; Wholesale Trade; and Mining.

 

https://tradingeconomics.com/united-states/non-manufacturing-pmi