December Retail Sales Upside Surprise Despite Online Sales Slowdown
With annual growth in core retail sales having slumped into November, analysts were cautiously optimistic that December would prompt a rebound in the much-watched indicator of consumer strength (despite signals from Target, among others, that all was not well).
However, while headline retail sales rose 0.3% as expected, ex-autos saw a significant 0.7% MoM surge in December (better than the expected 0.5% rise), best since July.
And thanks to the volatility of last December, YoY retail sales exploded higher…
But amid all this exuberance, auto sales slipped as did department stores…
But, online sales were up just 0.2%…
The control group – which is used for GDP calculation purposes – rose 0.5% MoM, better than expected.
Thu, 01/16/2020 – 08:39