Sunday, November 25

Retail sales SAG as Superstorm slowed buy sandy

Retail sales SAG as Superstorm slowed buy sandy

Retail sales suggesting a loss of momentum in spending in the fourth quarter fell in October for the first time in three months as Superstorm Sandy which hit brakes on car purchases.

Other data on Wednesday showed little inflation, with wholesale prices in October for the first time since may, that the Federal Reserve latitude continue its easy monetary policy stance to the economy nurse back to health.

Retail sales 0.3 percent after an increase of 1.3 percent in the September last month dipped, so the U.S. Department of Commerce. Economists had sales fall 0.2 percent expected.

Retailers offered early read sales report on the Storm effects on the economy. Its full impact will probably be felt in the November data.

Analysts estimate that the storm, densely populated that the East Coast lashed and damage up to $50 billion, percentage point from fourth quarter GDP could shave less than a half.

"While we some positive repayment later in the quarter expect a soft start to the fourth quarter real consumption, this", said Peter Newland, senior economist at Barclays in New York.

The U.S. Department of Commerce said that it had received signs from companies, that the storm had both positive and negative impact on the sales data by October.

Sales of automobiles dropped by 1.5 percent, that largest fall since August last year, after one of 1.7 per cent in September. Automakers have blamed for the decline of the storm and expect a recovery in November.

Excluding auto, retail sales were unchanged last month after promotion from 1.2 per cent in September that said the U.S. Department of Commerce.

The storm also likely dented sales at clothing stores, the 0.1 percent dipped after rising 0.4 percent of the previous month.

Material sales surprisingly building fell 1.9 percent, defying expectations of a surge of purchases above. Sales rose 2.1 percent in September building materials and garden equipment.

Surprising 1.4 percent last month increased receipts at gas stations. Gasoline sales was expected, due to a decline in gasoline prices show some weakness which in the course of the month. Gasoline posted their largest decline in sales since May 2010.

The Labour Ministry said separately the seasonally adjusted producer price index 0.2 percent last month, the first decline since may after increasing by 1.1 per cent in September slipped.

Economists expected prices at farms, factories and refineries had to increase by 0.2 percent last month.

Wholesale prices excluding volatile food and energy prices costs also fell 0.2 percent, the biggest fall since October after his apartment in September. Economists had expected core PPI rising 0.1 percent.

The benign tone of the report producer price inflation should be fed room to give low interest rate environment. Consumer price inflation currently hovers around 2 percent target of the Fed.

The American Central Bank in September launched a third round of asset purchases, you buy $40 billion, every month until there are to improve the labour market value of mortgage-backed securities.

It hopes that the purchases for the borrowing costs are lower.

In addition to Superstorm sandy, the retail sales report marks the sluggishness of domestic demand.

Sales of electronics and appliances fell 1.0 percent the previous month of boost from purchases of Apple's iPhone 5 some discharge. Furniture sales fell 0.6 percent after dropping 0.2 percent in September.

So-called core retail sales, which exclude, building materials, gasoline, and cars, fell 0.1 percent after a 0.9 percent increase in September. Core sales correspond most likely consumer spending, the part of the Government report gross domestic product.

Last month autumn suspected that consumer spending slowed early in this quarter after in the period from July to September on a solid foundation.

0 коммент.:

Post a Comment

Site Search