Retail Sales increased by 0.4% in April to $366.4 billion annualized, higher than the expected increase of 0.2%, following a 2.1% in March (revised from a 1.6% increase), after increasing by 0.5% in February. Over the past year, retail sales volume has expanded by 8.8%. Car dealers experienced a 0.5% growth in sales, after recording a 6.7% increase in March. Sales at clothing and accessories stores decreased by 1.0%. Sporting goods, hobby and book stores witnessed a 1.9% decline in sales. Sales at electronics and appliance stores also slipped 0.4%. However, building materials and garden equipment sales increased by 6.9% and gasoline stations reported a 0.5% increase in sales. Retail Sales excluding autos increased by 0.4% in April, matching expectations, after increasing by 1.2% in March (revised from a 0.6% increase) and 1.0% in February.
Industrial Production increased by 0.8% in April to an index value of 102.3 (2002=100), higher than the expected increase of 0.6%, following a 0.2% increase in March, revised from a 0.1% increase. Over the year, the industrial production index is up by 5.2%. Capacity Utilizationwas reported at 73.7%, an increase from the revised level of 73.1% for March, but 6.9 percentage points below its average for the period from 1972 through 2009. In April 2009, Capacity Utilization was measured at 69.2%.
Business Inventories are expected today at 10:00 AM EST. Business Inventories increased by 0.5% in February to $1, 326.4 billion, and were 6.7% less than February 2009 levels. The inventories/sales ratio was 1.27 at the end of February, compared to 1.46 recorded a year ago.
Upcoming Releases
Business Inventories(05/14 at 10:00 AM EST)
Net Foreign Purchases (05/17 at 9:00 AM EST)
PPI (05/18 at 8:30 AM EST)
Housing Starts (05/18 at 8:30 AM EST)
Net Foreign Purchases (05/17 at 9:00 AM EST)
PPI (05/18 at 8:30 AM EST)
Housing Starts (05/18 at 8:30 AM EST)
