Retail Sales increased by 0.3% in January, for the seventh consecutive month, to $381.6 billion annualized, lower than the expected increase of 0.6%, following an increase of 0.5% in December after increasing by 0.8% in November. This was the smallest increase in retail sales since June last year. Over the past year, retail sales volume has expanded by 7.8%. The largest increase in retail sales came from Gasoline stations and Grocery stores both of which grew by 1.4%. Sales at Non-store retailers increased 1.2%. Food and beverage stores witnessed a 1.3% increase in sales while sales at General merchandise stores grew by 0.8%. Sales at Health and personal care stores and Motor vehicle & parts dealers both grew 0.5%. Electronics and appliance stores rose 0.3%. The largest decrease came from building-supply and gardening stores, with sales dropping by 2.9%. Sales at sporting goods, hobby, book and music stores fell by 1.3% while food services and drinking places sales decreased 0.7%. Furniture and home furnishing store sales decreased 0.3%. Clothing and accessories stores sales also decreased by 0.3%. Retail Sales excluding autos increased by 0.3% in January, lower than the expected 0.6% increase, after increasing by 0.3% in December and by 1.0% in November.
Net Foreign Purchases for December decreased to $65.9 billion, following a November increase of $85.1 billion from $27.6 billion in October. Net foreign purchases of long-term U.S. securities were $76.8 billion, $66.3 billion of which were from private foreign investors and net purchases by foreign official institutions were $10.5 billion. U.S. residents purchased a net $10.9 billion of long-term foreign securities.
Business Inventories are expected today at 10:00 AM EST. Business Inventories increased by 0.2% in November to $1,133.1 billion, and were 8.5% more than November 2009 levels. The inventories/sales ratio was 1.25 at the end of November, compared to 1.27 recorded a year ago.
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