September 2018 US retail sales highlights

  • Prior was +0.1% (unrevised)
  • Ex autos -0.1% vs +0.4% exp
  • Prior ex autos +0.3% (revised to +0.2%)
  • Ex autos and gas 0.0% vs +0.4% exp
  • Prior ex autos and gas +0.2% (revised to +0.1%)
  • Control group +0.5% vs +0.4% exp
  • Prior control group +0.1% (revised to 0.0%)
  • Full report

The headline is poor but if you strip out autos, gas and building supplies it was a strong month. Autos rose 0.8%, building materials rose 0.1% and gasoline station sales fell 0.8%.

Boosts came from furniture (+1.1%) and electronics/appliances (+0.9%) while health and personal care stores (-0.3%) were a drag. The drop in spending at bars and restaurants was the largest in two years in a 1.8% decline but that may have reflected the impact of Hurricane Florence.

Control group: