May retail sales rise 0.1%, weaker than expected

[BumRushDaShow]

Source: CNBC

Published Tue, Jun 18 2024 8:31 AM EDT | Updated 5 Min Ago


Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation.

Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a Commerce Department report Tuesday that is adjusted for seasonality but not inflation. However, the result was slightly better than the downwardly revised 0.2% decline In April.

On a year-over-year basis, sales rose 2.3%. The sales number was worse when excluding autos, with a decline of 0.1% against the estimate for a 0.2% increase.

Moderating gas prices helped hurt receipts at gas stations, which reported a 2.2% monthly decline. That was offset somewhat by a 2.8% increase at sports goods, music and book stores. Online outlets reported a 0.8% increase, while bars and restaurants saw a 0.4% decline. Furniture and home furnishing stores also reported a 1.1% drop.

Read more: https://www.cnbc.com/2024/06/18/retail-sales-report-may-2024-may-retail-sales-rise-0point1percent.html

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Article updated.

Previous article -

Published Tue, Jun 18 2024 8:31 AM EDT Updated 2 Min Ago


Retail spending was weaker than expected in May as consumers continued to wrestle with stubbornly higher levels of inflation.

Sales rose just 0.1% on the month, one-tenth of a percentage point below the Dow Jones estimate, according to a e Commerce Department's report Tuesday that is adjusted for seasonality but not inflation. However, the result was slightly better than the downwardly revised 0.2% decline In April.

On a year-over-year basis, sales rose 2.3%. The sales number was worse when excluding autos, with a decline of 0.1% against the estimate for a 0.2% increase.

Declining gas prices helped hurt receipts at gas stations, which reported a 2.% monthly decline. That was offset somewhat by a 2.8% increase at sports goods, music and book stores. Online outlets reported a 0.8% increase, while bars and restaurants saw a 0.4% decline.

Original article -

Published Tue, Jun 18 2024 8:31 AM EDT


Retail sales were expected to rise 0.2% in May, according to the Dow Jones consensus estimate.

This is breaking news. Please check back for updates.

[mahatmakanejeeves]

1. You're lucky CNBC has that.

The Census Bureau, dedicated to having the worst website in the entire US gummint, won't cough up that info.

Advance Monthly Retail Sales
May 2024 Report
Released June 18th, 2024

429 Too Many Requests

And good morning.

[BumRushDaShow]

3. LOL

CNBC sent out a blaring breaking banner for it (I figured "something" would release today but wasn't sure what).

And good morning to you!

[progree]

2. From the source

https://www.census.gov/economic-indicators/#retail_sales
https://www.census.gov/retail/marts/www/marts_current.pdf

Advance Estimates of U.S. Retail and Food Services
Percent Change in Retail and Food Services Sales from Previous Month

Data adjusted for seasonal variation and holiday and trading-day differences but not for price changes. ((In other words, not adjusted for inflation. Inflation was 0% in May over April but 3.3% year-over-year, per the CPI -Progree))

Source: U.S. Census Bureau, Advanced Monthly Retail Trade Survey, June 18, 2024
Advance estimates of U.S. retail and food services sales for May 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were 703.1 billion, up 0.1 percent (±0.4 percent)* from the previous month, and up 2.3 percent (±0.5 percent) above May 2023.

Total sales for the March 2024 through May 2024 period were up 2.9 percent (±0.5 percent) from the same period a year ago. The March 2024 to April 2024 percent change was revised from virtually unchanged (±0.4 percent)* to down 0.2 percent (±0.2 percent)*.

* The 90 percent confidence interval includes zero. There is insufficient statistical evidence to conclude that the actual change is different from zero.

...
Receive the latest updates on the nation’s key economic indicators by downloading the FRED App for both Apple and Android devices ( https://fred.stlouisfed.org/fred-mobile/ ) FRED, the signature database of the Federal Reserve Bank of St. Louis, now incorporates the Census Bureau’s 13 economic indicators.

[Igel]

4. Yeah, I don't feel the joy

Have to sign up MediCare "real soon now." To avoid a substantial penalty. And find some added-on MediCare plan.

But it costs more than my employer health plan. So Medicare + Medicare advantage = "more expensive."

Gee. I turn 65. And am punished for it. (It's like being punished for being _____, fill in privileged category of choice.)

It's 6/18. Have a few days.

Then again, house insurance was due today. At 4:30 an insurance agent said, "I can save you $!" "You knew a month ago my payment was due today. And you waited until now?"

I'd blame "capitalism," but, you know, cottage industry was capitalist. Mercantilism may be state-run, but at the unit of production we've always been capitalist. Always. Even in Assyria or Babylonia. The rest is top-down gov.