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Retail Sales Come In Line, Ex-Autos/Gas Slight Miss

Tyler Durden's picture




 

In what may come as a surprise to some, advance retail sales for January printed on top of expectations of a +0.1% increase in sequential sales, although the forecast range was very wide, from -0.7% to +0.6% as many analysts were concerned what the impact of the payroll tax expiration would be on sales. This is a moderation of the January growth when retail sales rose 0.5%.  And while the headline number was goldilocks, the core reading excluding autos and gas came at 0.2% or slightly below expectations of a 0.4% print. What was even more curious is that the commerce department said department store sales rose the most since February 2012. Retail sales “relatively flat” as end of tax holiday likely had effect, says Bloomberg Government economist Nela Richardson. In B-grade economic news,  import price index up 0.6% M/m vs est. 0.8%  increase(range 0.2%-1.2% gain); prior revised to 0.5% drop from down  0.1%.

From the report:

Retail trade sales were up 0.1 percent (±0.5%)* from December 2012 and 4.1 percent (±0.8%) above last year. Nonstore retailers were
up 15.7 percent (±2.3%) from January 2012 and auto and other motor vehicle dealers were up 9.4 percent (±2.3%) from last year.

 

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Wed, 02/13/2013 - 09:51 | 3239977 LongSoupLine
LongSoupLine's picture

With every other fucking data point being fucking emperically proven as fucked up manipulated to all fucking shit stinking hell, why should we fucking believe this horseshit?

 

Fuck you Dept of Commerce...fucking obama shit eating data stuffing fucks.

 

 

 

Wed, 02/13/2013 - 10:08 | 3240026 Sudden Debt
Wed, 02/13/2013 - 10:12 | 3239980 NumberNone
NumberNone's picture

Don't worry.  All this shit will skyrocket with the new minimum wage.  Everyone will have so much more money to spend.  

Wed, 02/13/2013 - 10:22 | 3240068 otto skorzeny
otto skorzeny's picture

IL is kicking such ass our retarded irish guv wants to raise min wage to $10-that'll bring the bizzez rushing in instead of out. $4 a gallon gas helps as well

Wed, 02/13/2013 - 10:00 | 3240003 Oldwood
Oldwood's picture

Why would tax increases have anything to do with consumer spending when it is all borrowed money that they are spending? If people had any sense at all about financial reality and responsibility, we wouldn't be here right now. Most of us have been beating our head against the wall of reality, unable to understand how this mess can continue, when its whole creation was based on those very same fundamentals! Does a dope addict realizing he is dying from the overdose or does he simply think he is going to the next greater plain of existence, or higher yet high? Did all those people who drank Jim Jones koolAid really die or did they actually realize their goals? Societal suicide may be the subliminal text here.

Wed, 02/13/2013 - 10:28 | 3240092 augustusgloop
augustusgloop's picture

up student loan limits. have every DeVry, u o phoenix, etc.  student buy a macbook, iphone, ipad, pro-linked in account for networking. give new grad an auto loan to buy car.  watch economy blossom. 

Wed, 02/13/2013 - 10:03 | 3240013 adr
adr's picture

Seasonaly adjusted estimated propaganda bullshit as usual. Department stores may have sold a lot of goods, but it was at or below cost to rid themselves of excess inventory. The Russian wholsesalers probably got great deals this year, soon the product will end up on the Amazon marketplace for 1% more than Amazon paid the wholesaler. Toys R Us was so desperate for higher margins that they imported Chinese market Transformers complete with packaging written in Mandarin. What kid wants a Megatron dressed like a Chinese warrior who turns into a Cold War era Chinese tank? In the real world sales were absymal in January and new orders were worse.

Wed, 02/13/2013 - 10:15 | 3240014 CheapBastard
CheapBastard's picture

What adr says makes sense. I talked to several store managers around here and they are all depressed with the plunging sales volume...only way to move inventory is cutting the price 90% they say.....so the article surprises me.

 

However, there are tons of 'EZCredit' places advertizing all over for loans, usually "under $10,000 with no credit history  checks." Perhaps the retial numbers are mostly due to moar credit...

I did read people who have a little equit yin their houses are once again suckign that out to buy doo dads and iToys.

 

And with the return of zero down mortgages they can even live in a nice $300,000 house for free while they borrow  spend away.

Wed, 02/13/2013 - 17:59 | 3241297 LooseLee
LooseLee's picture

The 'average American consumer' is a MORON by definition....

Wed, 02/13/2013 - 10:05 | 3240017 DavidC
DavidC's picture

Wonder what they would be like taking into account money inflation?

DavidC

Wed, 02/13/2013 - 10:06 | 3240019 Sudden Debt
Sudden Debt's picture

Already figured that one out when they said "mobile phone sales down"

once the cornerstones of the economy start to crumble...

Wed, 02/13/2013 - 10:20 | 3240060 RSBriggs
RSBriggs's picture

Yeah - it's like the PC business.   At some point what you have is "good enough" that you don't feel like you have to upgrade every few months so you have the latest "bells and whistles".... 

Wed, 02/13/2013 - 10:30 | 3240102 Sudden Debt
Sudden Debt's picture

yeah...

It even turns out... YOU CAN PLAY TETRIS ON A 200$ PHONE LIKE YOU PLAY IT ON A 700$ PHONE!!

WHO WOULD HAVE KNOWN!!!

Wed, 02/13/2013 - 10:18 | 3240059 youngman
youngman's picture

I have read that vacancies in 2nd tier centers is increasing....so less SF leased..means less sales...less sales tax revenues...less income..less jobs...econ 101

the slowing of phone sales has to have a lot of people sweating...

Wed, 02/13/2013 - 10:25 | 3240076 otto skorzeny
otto skorzeny's picture

christ-if you don't switch carriers a new phone is $600-that's a whole month's check for a 22 year old lucky enough to have a job-that and it takes $60 to fill up the gas tank on your shitty broken down car

Wed, 02/13/2013 - 13:01 | 3240484 NEOSERF
NEOSERF's picture

Expect Unemployment to drop dramatically this summer as it did during the 2010 census...ACA

"This is a very skeptical audience," said Rachel Klein of Enroll America, a nonprofit group set up by the founding members of Families USA, a group that campaigned for the law's passage. Enroll America is planning to send volunteers door-to-door in communities with high rates of uninsured people as part of a bigger campaign that is likely to focus on states like Florida and Texas, in part because officials there have signaled their opposition to the health law and aren't expected to promote it aggressively.

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