Retail Sales Rise, But Total Misses Mark
The US Census Bureau reported that total seasonally adjusted retail sales in January rose 0.4%, considerably weaker than the 1% gain expected by economists polled by MarketWatch. Excluding auto sales, the increase was 0.7%, right on target. These comparisons are…
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The US Census Bureau reported that total seasonally adjusted retail sales in January rose 0.4%, considerably weaker than the 1% gain expected by economists polled by MarketWatch. Excluding auto sales, the increase was 0.7%, right on target. These comparisons are with December 2011.
Compared to January 2011, auto sales rose 7.5%, building materials rose 8.1%, and food and beverage establishments rose 8.2%. The only area with lower year-over-year sales was electronics stores, down -0.6%.
Total sales, excluding autos, rose 5.5% compared with January 2011. While total auto sales rose, actual sales figures were lower, indicating that auto makers and dealers were applying incentives and discounts to lure buyers.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
