Retail Sales decreased by 1.2% in May, the largest such decrease in 8 months, to $362.5 billion annualized, against the expected increase of 0.2%, following an increase of 0.6% in April, (revised upwards from a 0.4% increase), after increasing by 2.1% in March. Over the past year, retail sales volume has expanded by 6.9%. Car dealers experienced a 1.7% decline in sales, after recording a 0.6% increase in April. This was the largest decline in this category after a drop of 2.5% in February. Building materials and garden equipment sales decreased significantly, by 9.3% and gasoline stations reported a 3.3% decline in sales. Sales at clothing and accessories stores fell by 1.3%. General merchandise stores saw a 1.1% decrease in sales. However, sales at electronics and appliance stores increased 0.6%. Sporting goods, hobby and book stores also witnessed a 0.4% increase in sales. Retail Sales excluding autos decreased by 1.1% in May, against expectations of an increase of 0.1%, after increasing by 0.6% in April, (revised from a 0.4% increase) and 1.2% in March.
Business Inventories are expected today at 10:00 AM EST. Business Inventories increased by 0.4% in March to $1, 327.5 billion, and were 5.0% less than March 2009 levels. The inventories/sales ratio was 1.24 at the end of March, compared to 1.46 recorded a year ago.
Upcoming Releases
Business Inventories (06/11 at 10:00 AM EST)
Net Foreign Purchases (06/15 at 9:00 AM EST)
PPI (06/16 at 8:30 AM EST)
Housing Starts (06/16 at 8:30 AM EST)
Business Inventories (06/11 at 10:00 AM EST)
Net Foreign Purchases (06/15 at 9:00 AM EST)
PPI (06/16 at 8:30 AM EST)
Housing Starts (06/16 at 8:30 AM EST)
