Tuesday, April 14, 2009

Retail Sales Disappoint

First -- this is without a doubt one of the most useless when issued statistics imaginable. It's not inflation adjusted and the total number includes an entire variety of numbers that make more sense as a solo statistics.

That being said:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for March, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $344.4 billion, a decrease of 1.1 percent (±0.5%) from the previous month and 9.4 percent (±0.7%) below March 2008. Total sales for the January through March 2009 period were down 8.8 percent (±0.5%) from the same period a year ago. The January 2009 to February 2009 percent change was revised from -0.1 percent (±0.5%)* to +0.3 percent (±0.3%)*.

Retail trade sales were down 1.1 percent (±0.7%) from February 2009 and 10.7 percent (±0.7%) below last year. Gasoline stations sales were down 34.0 percent (±1.5%) from March 2008 and motor vehicle and parts dealers sales were down 23.5 percent (±2.3%) from last year.


Notice the following points:

-- Sales are down 9.4% from March 2008

-- Sales are down 8.8% from the January - March period of last year

Auto sales are still getting hammered



All of the categories are down year over year. Here is the chart from the St. Louis Fed:



And here's the year over year percentage change