Retail Sales increased by 0.6% in September to $367.7 billion annualized, higher than the expected increase of 0.4%, following an increase of 0.7% in August, (revised upwards from a 0.4% increase), after increasing by 0.3% in July. Over the past year, retail sales volume has expanded by 7.3%. Motor vehicles and parts dealers experienced a 1.6% increase in sales, after a 0.5% decrease in August and sales at electronics and appliance stores rose 1.5%. Sales at non-store retailers, which includes internet retailers, increased by 1.0%. Sales at health and personal care stores, and furniture and home furnishing storesincreased by 0.5%. Gasoline stations reported a 0.4% increase in sales after recording a 1.3% increase last month. Food and beverage stores sales also increased by 0.4% after rising by 1.8% in August. Sporting goods, hobby, book and music stores witnessed a 0.2% increase in sales while sales at food services and drinking places increased 0.3%. Clothing and accessories stores was the only major category to experience a decline, with sales falling 1.2% while sales at general merchandise stores were unchanged. Retail Sales excluding autos increased by 0.4% in September, higher than the expected increase of 0.3%, after increasing by 1.0% in August (revised upwards from a 0.6% increase) and by 0.2% in July.
The Consumer Price Index increased by 0.1% in September, lower than the expected increase of 0.2%, to an index value of 218.439 (1982-84=100), after increasing by 0.3% in July and August. Over the year the CPI has increased by 1.1% before seasonal adjustment. The food index increased by 0.3%, after increasing by 0.2% in August and decreasing by 0.1% in July and is up by 1.4% over the year. Energy Prices increased by 0.7% after increasing by 2.3% in August and are up 3.8% over the year. Excluding food and energy prices, the Core CPI remained unchanged as it was in August and July and has advanced by 0.8% over the year.
Business Inventories are expected today at 10:00 AM EST. Business Inventories increased by 1.0% in July to $1,375.7 billion, and were 2.4% more than July 2009 levels. The inventories/sales ratio was 1.26 at the end of July, compared to 1.35 recorded a year ago.
Today at 2:00 PM EST, the Department of Treasury will release the balance of the Treasury Budget for September, with an anticipated deficit of $41.6 billion, following the reported $90.526 billion deficit in August.
Upcoming Releases
Business Inventories (10/15 at 10:00 AM EST)
Treasury Budget (10/15 at 2:00 PM EST)
Net Foreign Purchases (10/18 at 9:00 AM EST)
Industrial Production (10/18 at 9:15 AM EST)
