George S. May Business Blog

Retail sales increase for October

From September to October, retail sales increased 1.4%. Excluding auto parts and sales, retail rose a mere 0.2%. Our economy saw a slight decline in September, so the rebound was definitley good news.

Real retail sales declined by 1.7% on a YoY basis. The year-over-year comparisons are much easier now since retail sales collapsed in October 2008. Retail sales bottomed in December 2008.

Here is the Census Bureau report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for October, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $347.5 billion, an increase of 1.4 percent (±0.5%) from the previous month, but 1.7 percent (±0.5%) below October 2008. Total sales for the August through October 2009 period were up 1.5 percent (±0.3%) from the same period a year ago. The August to September 2009 percent change was revised from -1.5 percent (±0.5%) to -2.3 percent (±0.3%).

It appears retail sales have bottomed, but there has been little pickup in final demand.

Related posts:

1. Retail sales weak in December WSJ: “Retail sales declined 0.3%, the Commerce Department said Thursday. Economists surveyed by Dow Jones Newswires forecast a 0.5% increase. November sales, however, were adjusted...


2. Retail Sales are up and up big! Is the recession over? In looking at the raw numbers for Retail sales in the month of August, it would be pretty easy to be convinced that we were...


3. Retail Sales Hail a Stronger Economy Another positive sign of strength from America’s economy, long thought to be flat-lining after a disastrous few years. Retail sales have been growing at an...


4. Jack Daniel’s Hopes for Higher Spirits (Sales) Jack Daniel’s is a time-honored symbol of Americana. It’s more than a whiskey, it’s the rebellious spirit of America, the chalice of choice for Bluto...


5. Auto sales slide across the board at the hands of a Cash for Clunkers hangover In the post Cash for Clunkers months it was expected that auto sales would take a hit. Well, they did and here are the numbers.  “The...