By Mark Pender
NEW YORK (MNI) – MNI’s U.S. retail trade indicator slowed by 2.4
points in the Nov. 17 period to 60.2, still well above breakeven 50 to
indicate strong growth in year-on-year business activity, according to
the results of MNI’s weekly survey released Monday.
Total sales are a year-on-year +4.5% with same-store sales at
+2.4%.
But respectable year-on-year rates of growth aren’t translating
into much month-to-month strength.
The early indication for the government’s November retail sales
headline is -0.2%. The ex-auto indication is -0.3%.
But when excluding both autos and gasoline, where falling prices
look to squeeze gas stations, the indication is slightly positive with
MNI’s data pointing to +0.2% for the government’s ex-auto ex-gas
reading.
Trends for most in the sample are on track though many with
Northeast exposure are warning that the first half of November was
depressed by the aftermath of Hurricane Sandy.
General merchandise is showing gains so far in November as are
electronics & appliances and building materials. Apparel shows a decline
as do restaurants.
Income growth for the sample +7%. Sample size in the period is 225
chains representing 248,700 separate retail locations.
Editor’s Note: MNI compiles its retail trade indicator based on a
weekly sample of company news and data.
** MNI New York Bureau: 212-669-6430 **
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