U.S. Retail Sales Unexpectedly Unchanged, Ex-Auto Sales Inch Higher

RTTNews | 972 days ago
U.S. Retail Sales Unexpectedly Unchanged, Ex-Auto Sales Inch Higher

(RTTNews) - A report released by the Commerce Department on Friday showed U.S. retail sales unexpectedly came in unchanged in the month of September.

The Commerce Department said retail sales were virtually unchanged in September after rising by an upwardly revised 0.4 percent in August.

Economists had expected retail sales to edge up by 0.2 percent compared to the 0.3 percent increase originally reported for the previous month.

"With retail sales unchanged in September there is still little evidence that the boost to purchasing power from the earlier sharp fall in gasoline prices has helped real consumption," said Andrew Hunter, Senior U.S. Economist at Capital Economics.

He added, "Energy prices are now edging higher again and employment growth is slowing, so we expect consumption growth to weaken further over the coming months."

The flat reading on retail sales came amid a modest pullback by sales by motor vehicle and parts dealers, which fell by 0.4 percent in September after surging by 2.8 percent in August.

Excluding the decrease in auto sales, retail sales inched up by 0.1 percent in September after edging down by 0.1 percent in August. Ex-auto sales were expected to dip by 0.1 percent.

The uptick in ex-auto sales partly reflected a jump in sales by department stores as well as increases in sales by clothing and accessories stores, health and personal care stores and food service and drinking places.

On the other hand, the report showed sales by gas stations slumped by 1.4 percent in September after plunging by 5.2 percent in August amid lower gasoline prices.

Sales by miscellaneous store retailers also tumbled by 2.5 percent, while sales by electronics and appliance stories, furniture and home furnishings stores and sporting goods, hobby, musical instrument and book stores also fell.

Core retail sales, which exclude automobiles, gasoline, building materials and food services, increased by 0.4 percent in September after inching up by 0.2 percent in August.

read more
U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

U.S. Producer Prices Inch Up 0.1% In May, Less Than Expected

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May. The Labor Department said its producer price index for final demand inched up by 0.1 percent after slipping by a revised 0.2 percent in April.
RTTNews | 2h 45min ago
U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

U.S. Weekly Jobless Claims Unexpectedly Unchanged At Eight-Month High

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in flat in the week ended June 7th. The report said initial jobless claims in at 248,000, unchanged from the previous week's revised level. Economists had expected jobless claims to dip to 240,000 from the 247,000 originally reported for the previous week.
RTTNews | 2h 49min ago
U.S. Producer Prices Inch Up Less Than Expected In May

U.S. Producer Prices Inch Up Less Than Expected In May

After reporting an unexpected decrease by U.S. producer prices in the previous month, the Labor Department released a report Thursday showing producer prices crept slightly higher in the month of May.
RTTNews | 3h 58min ago
U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.
RTTNews | 1 day ago
U.S. Job Growth Slightly Exceeds Estimates In May

U.S. Job Growth Slightly Exceeds Estimates In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.
RTTNews | 6 days ago