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Friday, December 14, 2018 10:48:28 AM EST

Retail Sales Updated 14-Dec-18 09:22AM ET

Total retail sales increased 0.2% in November, as expected, while retail sales, excluding autos, jumped 0.2% ( consensus +0.3%).

An important item to take into account is that there were sizable revisions to the October data for total retail sales (to 1.1% from 0.8%) and retail sales, excluding autos (to 1.0% from 0.7%). Those revisions should mitigate any sense of disappointment in the "mixed" report for November.

Motor vehicle and parts dealer sales rose 0.2% after increasing 1.5% in October.

Gasoline station sales declined 2.3% after increasing 3.2% in October.

Building material sales slipped 0.3% after increasing 1.5% in October.

Food services and drinking places sales dropped 0.5% after increasing 0.6% in October.

The key takeaway from the Retail Sales report is that core retail sales, which exclude auto, gasoline station, building materials, and food services and drinking places sales, increased 0.9%. That's important because core retail sales are used in the computation of the goods component for personal consumption expenditures in the GDP report.
Retail Sales0.2%1.1%-0.2%-0.1%0.6%
Excluding Autos0.2%1.0%-0.3%0.1%0.8%
Durable goods
Building Materials-0.3%1.5%0.2%0.8%0.3%
Nondurable goods
General Merchandise0.4%0.8%-0.5%0.0%1.1%
Gasoline stations-2.3%3.2%-1.3%1.6%0.4%