Archive for October, 2020

Retail Sales Month over Month September 2020

 Retail sales in the US jumped 1.9% month-over-month in September of 2020, following a 0.6% gain in August and beating forecasts of a 0.7% increase. It is the biggest rise in three months, with sales at clothing stores (11%); department stores (9.7%); sporting goods (5.7%); and auto dealers (4% ) recording the highest increases. Sales also went up at food services and drinking places (2.1% ); health and personal care stores (1.7%); gasoline stations (1.5%); miscellaneous store retailers (1.1%); building material and garden equipment (0.6%); nonstore retailers (0.5%); and furniture stores (0.5%). In contrast, sales fell at electronics and appliance stores (-1.6%). Retail sales excluding food services, car dealers, building-materials stores and gasoline stations, the so-called control group sales seen as a more reliable gauge of demand, increased 1.4%. Year-on-year, retail sales went up 5.4%, the strongest annual gain so far in 2020. source: U.S. Census Bureau
ISM PMI September 2020

The ISM Manufacturing PMI for the United States fell to 55.4 in September of 2020 from 56 in August, below market forecasts of 56.4. The reading pointed to the 4th consecutive month of expansion in factory activity, although the growth rate eased from August’s near 2-year high. A slowdown was seen in new orders (60.2 vs 67.6), production (61 vs 63.3) and supplier deliveries (59 vs 58.2) while employment was nearly stable (49.6 vs 46.4). Inventories contracted at a slower pace (47.1 vs 44.4) and new export orders rose faster (54.3 vs 53.3). Price pressures intensified (62.8 vs 59.5). “After the coronavirus pandemic brought manufacturing activity to historic lows, the sector continued its recovery in September. Survey Committee members reported that their companies and suppliers continue to operate in reconfigured factories and are becoming more proficient at maintaining output. Panel sentiment was optimistic, an improvement compared to August”, Timothy R. Fiore, Chair of the ISM said. source: Institute for Supply Management