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Free AccessMNI DATA IMPACT: Nov US Retail Sales -1.1%, Below Expected
U.S. retail sales fell by a larger-than-expected 1.1% in November, according to figures published Wednesday by the Census Bureau, underscoring renewed weakness across the sector as spiking Covid-19 infections, hospitalizations, and deaths trigger new business restrictions in some parts of the country.
Financial markets had expected sales to fall by 0.3%. October sales were also revised down to a 0.1% decline from a 0.3% gain, marking the first drop since headline sales bottomed out in April when storefronts and restaurants across the nation were still in lockdown.
Still, sales were up 4.1% from one year ago, with October posting an even stronger 5.5% year-over-year gain.
Motor vehicle sales fell 1.7% in November after a flat reading in October. From a year earlier, vehicle sales were still up 6%. Excluding vehicle sales, retail sales were down 0.9%.
Gas station sales plummeted in November, falling 2.4% after a 0.2% decline in October. Sales at the pump were down 17.1% from year-ago levels. Excluding motor vehicle and gas station sales, total sales fell 0.8%.
Spending at restaurants fell 4% in November as new Covid-19 restrictions through the month mostly targeted bars and restaurants.
Sales at clothing and clothing accessories stores dropped 6.8%, doubling October's 3.4% decline. Consumers are likely pulling back spending on discretionary items like footwear and apparel as consumer confidence wanes, industry experts told MNI this week.
Other notable month-over-month declines came from department stores (-7.7%), electronics and appliance store sales (-3.5%), furniture and home furnishing stores (-1.1%), and health and personal care stores (-0.7%).
Sales growth through November was mostly concentrated in sales at grocery stores, which were up 1.9%, likely because of restaurant shutdowns. Food and beverage store sales rose 1.6%.
Sales at building material and garden equipment stores were up 1.1% after a 0.1% gain in October.
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