Retail Sales Growth Slows As Fuel Costs Rise

Following March's surprising surge in Retail Sales - after 3 months of declines - April saw spending growth slow notably to just +0.3% from a revised-higher March 0.8% gain.

February's initial decline was also revised to a rise...

 

Core retail sales (ex autos and gas) also slowed and missed expectations suggesting some spillover from higher gas prices...

Under the hood saw every sector see gains in spending aside from Electronics and Appliance Stores, Health and Personal Care, Sporting Goods, and Food Sevice and Drinking Places. Perhaps all feeling the pinch from higher gas prices.

Most notably, the Control Group - which adjusts out food, autos, gas, and building materials - saw YoY growth slow dramatically...

Comments

KimAsa Tue, 05/15/2018 - 08:41 Permalink

High oil prices breaks economies.  Yet, the subsidized shale industry can’t turn a profit on anything less than WTI at $100 bpd.  What a shitshow.

ejmoosa KimAsa Tue, 05/15/2018 - 10:06 Permalink

Tell me how they differentiate the impact of higher interest rates and higher fuel costs?

Especially as most of my stuff is delivered....

 

By the way, it's artificially high oil prices that break economies.

Higher oil prices based on real demand will stimulate more discovery, more production, and reward engineering and advancements in fuel efficiencies.

 

In reply to by KimAsa

Hal n back ejmoosa Tue, 05/15/2018 - 10:37 Permalink

wholesale gas prices were up 8% in April--Gasoline is 9% of retail sales. That means Gasoline contributed about .7% of the  .3% monthly increase.

 

Hmmm.

Thank heaven gas prices skyrocketed or else retail would have  been negative again.

BTW-wholesale gas price up 3.2% this month so far.

In reply to by ejmoosa

karenm Tue, 05/15/2018 - 08:41 Permalink

"Sales growth"

 

So, tens of thousands of stores closing while there's "growth" huh?

 

Such fucking bullshit

 

We had $100 oil for years and it wasn't a problem, now suddenly $70 oil is "too high" and causing "slow growth." No, the economy is collapsing hard, and now they need a scapegoat narrative, like when they tried to blame Amazon's 4% retail market share for all the closures

Last of the Mi… Tue, 05/15/2018 - 08:43 Permalink

At $2.50 per gallon lowest price the economy goes tits up every time. All those liberal gas tax hikes to pay for more socialist agenda are now biting as oil goes up for the summer.

A socialist agenda is a socialist agenda no matter where it originates. My fav for the week is the "head tax" imposed in Seattle on businesses to pay for the homeless. Liberals absolutely hate a free market.

Delving Eye Last of the Mi… Tue, 05/15/2018 - 09:28 Permalink

What about the additional hefty property tax for Illinois residents in order to pay for the sky-high public pensions? 

Anyone with money is fleeing states like Illinois, Connecticut and California -- states that were once enviable places to live but have been run into the ground my SJWs and a poisonous liberal agenda. Eventually, you run out of other people's money! 

In reply to by Last of the Mi…

taketheredpill Tue, 05/15/2018 - 08:53 Permalink

 

Off Topic but interesting that mainstream headlines on Gaza all say "dozens" or "scores" killed and "hundreds" wounded.  Instead of the actual numbers say 55 and 1,200.

Assholes.

 

Retail Sales lower means sell bonds buy stocks.

retail Sales higher means sell bonds buy stocks.

Assholes.

 

 

 

Cautiously Pes… Tue, 05/15/2018 - 09:05 Permalink

Folks are strapped.  Middle class has gotten squeezed hard for the last decade.  Inflation and shrinkflation is/has taken a toll.  The lower class has everything subsidized for them and the wealthy are not too concerned for obvious reasons.  Real wages and purchasing power declining year after year and my wife and I are definitely feeling that pain.