US December advance retail sales +0.3% vs +0.3% expected
Retail sales data for December 2019:
- Prior was +0.2% (revised to +0.3%)
- Sales +0.334% unrounded
- Control group +0.5% vs +0.4% expected
- Prior control group +0.1% (revised to -0.1%)
- Ex autos and gas +0.5% vs +0.4% expected
- Prior ex auto and gas +0.0% (revised to -0.2%)
- Ex autos +0.7% vs +0.5% expected
- Prior ex autos +0.1%
- Sales up 5.8% y/y
- 2019 total sales up 3.6% from 2018
- Auto sales -1.3% m/m
- Full report
Digging deeper, the year-over-year rises in electronics, appliances and clothing and were flat year over year with much of the gains compared to a year ago coming at 'food and beverage' stores, 'health and personal care' and gasoline stations. To me this looks more like a story of inflation than consumer growth.
The trend towards online shopping isn't showing any signs of slowing down. The 'nonstore retailers' category rose 19.2% compared to December 2018.