Total retail sales were down 1.9% month-over-month in December (Briefing.com consensus 0.0%) while retail sales, excluding autos, decreased 2.3% (Briefing.com consensus 0.2%). On a year-over-year basis, total retail sales were up 16.9% and up 18.8% excluding autos.
Motor vehicle and parts dealers sales decreased 0.4% after increasing 0.2% in November.
Gasoline station sales decreased 0.7% after increasing 2.2% in November.
Building material and garden equipment and supplies dealers sales increased 0.9% after increasing 2.2% in November.
General merchandise store sales decreased 1.5% after decreasing 1.2% in November.
Food services and drinking places sales decreased 0.8% after increasing 0.6% in November.
The key takeaway from the report is that total retail sales, which are not adjusted for inflation, contracted at their fastest pace since last February in the face of broadly higher prices. This suggests that inflation is weighing down consumer spending.| DEC | NOV | OCT | SEP | AUG | |
|---|---|---|---|---|---|
| Retail Sales | -1.9% | 0.2% | 1.8% | 0.7% | 1.2% |
| Excluding Autos | -2.3% | 0.1% | 1.8% | 0.6% | 2.2% |
| Durable goods | |||||
| Building Materials | 0.9% | 2.2% | 3.0% | 0.1% | 1.6% |
| Autos/parts | -0.4% | 0.2% | 1.7% | 1.2% | -2.7% |
| Furniture | -5.5% | 0.5% | 2.6% | -1.1% | 1.6% |
| Nondurable goods | |||||
| General Merchandise | -1.5% | -1.2% | 1.6% | -0.3% | 3.5% |
| Food | -0.5% | 0.4% | 1.0% | 0.5% | 2.2% |
| Gasoline stations | -0.7% | 2.2% | 3.5% | 3.5% | 1.7% |
| Clothing | -3.1% | 1.2% | 1.0% | 2.0% | 0.0% |
| e*retailing/non-store | -8.7% | -1.5% | 3.8% | -0.4% | 5.9% |
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