-Motor Vehicle Sales Down 1.5%, Gasoline Station Sales Rise 1.4%
-Sales Excluding Both Motor Vehicles And Gas Down 0.3%
-Commerce Cannot Isolate Effect Of Hurricane Sandy
By Kevin Kastner
WASHINGTON (MNI) – Retail sales at U.S. stores fell 0.3% in
October, a larger decline than expected, on a 1.5% decrease in motor
vehicles and parts sales and a flat reading for sales excluding motor
vehicles, data released Wednesday morning by the U.S. Commerce
Department showed.
Sales were down 0.3% excluding both the decline in motor vehicles
sales and a 1.4% rise in gasoline station sales.
The Commerce Department noted that it cannot isolate the impact of
Hurricane Sandy in the data, noting that the survey was meant to
estimate the level of national retail sales, not one region.
Commerce noted that it reviewed other outside sources in assembling
the October report, but did not alter its data collection or seasonal
adjustment methods.
Likewise, it did receive data from the affected areas, though in
some cases on a delayed basis.
There were declines in sales at furniture stores, electronics
stores, building materials stores, clothing stores, and at eating and
drinking places.
These were offset by increasing sales at food and beverage stores
and sporting goods stores, as well as general merchandise stores.
Retail sales excluding autos, gasoline, and building materials fell
0.1% after a 0.9% increase in September, based on an MNI calculation.
Retail sales were up 5.3% from a year ago, before seasonal
adjustment, a much stronger pace than the 3.1% year/year rise for total
sales in September. Sales excluding motor vehicles rose 4.6% year/year
in October, up from the 2.7% rise in September.
Despite the October decline, seasonally adjusted sales were up 3.5%
at an annual rate after one month of the fourth quarter compared with
the third quarter average, while sales excluding motor vehicles were up
4.1% at an annual rate, based on an MNI calculation.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
