Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
Reporting on key macro data at the time of release.
Real-time insight on key fixed income and fx markets.
- Emerging MarketsEmerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
- MNI ResearchMNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
- About Us
--September Retail Sales Ex. Auto Down 0.1%; Control Group Up 0.5%
By Shikha Dave and Harrison Clarke
WASHINGTON (MNI) - The value of retail sales rose by 0.1% in
September overall and fell 0.1% excluding motor vehicle sales, below
expectations for 0.6% and 0.4% gains, respectively, but following
mixed revisions to sales in August, data released by the Commerce
Department Monday showed.
The data suggests that there was indeterminate impact from
Hurricane Florence. A greater impact would be expected from Hurricane
Michael in the October data.
--MOTOR VEHICLE SALES RISE, GAS DOWN
Motor vehicle sales posted a 0.8% increase, led by the replacement
of vehicles in the Southeast, while gasoline station sales fell by 0.8%
in September after a 1.1% August gain, but outside of both motor
vehicles and gasoline, retail sales posted a flat reading.
Clothing stores sales rose by 0.5% in the month, while
building materials sales increased 0.1%. Sales of building materials are
likely to be lifted in the coming months by rebuilding efforts in the
Food services and drinking places' sales fell by 1.8% and
electronics store sales rose by 0.9%. Retail sales excluding autos,
gasoline, and building materials were flat in September. Further,
excluding food services as well as the other three measures, retail
sales were up 0.5% after a flat reading in August, suggesting mixed
--3Q CONSUMPTION SOLID
Incorporating the mixed revisions to August sales and the downward
revisions to July sales, third quarter retail sales were up 5.1% at an
annual rate from the second quarter average, suggesting upward momentum.
Sales excluding motor vehicles were up 6.4% at an annual rate from
the previous quarter, while sales excluding autos, building materials,
and gas were up 6.0%. Even when food services were also excluded,
third quarter sales were up 4.8% at an annual rate from the second
quarter, pointing to underlying strength outside the volatile
** MNI Washington Bureau: 202-371-2121 **