Shift In Calendar Gives December Retail Sales A Boost
The National Retail Federation said retail sales were up in December, boosted in part by the calendar shift of two of the busier holiday shopping days into the year’s final month.
According to the CNBC/NRF Retail Monitor.
Total retail sales, excluding automobiles and gasoline, were up 1.74% seasonally adjusted month-over-month and up 7.24% unadjusted year-over-year in December, according to the Retail Monitor. That compared with increases of 0.15% month-over-month and 2.35% year-over-year in November.
The Retail Monitor calculation of core retail sales (excluding restaurants in addition to automobiles dealers and gasoline stations) was up 2.19% month-over-month in December and up 8.41% year-over-year. That compared with a decrease of 0.19% month-over-month and an increase of 1.43% year-over-year in November.
“Growth rebounded strongly in December from a misleadingly weaker November as the result of the final two days of the busy Thanksgiving holiday weekend being included in December’s data,” said Matthew Shay, president and CEO of the NRF. “Calendar issues aside, value-conscious customers showed enthusiasm for celebrating loved ones with the right gifts at the right price points for their budgets in December. Households are in good financial shape amid low unemployment, growing income and continued deceleration of inflation for goods.”
December sales were up across the board on a yearly basis, led by online sales, clothing and accessories stores, and electronics and appliances stores. Sales were up in all but one of nine categories on a monthly basis.
Specifics from key sectors include:
- Online and other non-store sales were up 4.49% month-over-month seasonally adjusted and up 33.05% year-over-year unadjusted.
- Clothing and accessories stores were up 4.07% month-over-month seasonally adjusted and up 14.47% year-over-year unadjusted.
- Electronics and appliance stores were up 3.25% month-over-month seasonally adjusted and up 10.23% year-over-year unadjusted.
- General merchandise stores were up 3.24% month-over-month seasonally adjusted and up 9.77% year-over-year unadjusted.
- Sporting goods, hobby, music and book stores were up 3.81% month-over-month seasonally adjusted and up 7.43% year-over-year unadjusted.
- Health and personal care stores were up 1.85% month-over-month seasonally adjusted and up 6.98% year-over-year unadjusted.
- Furniture and home furnishings stores were up 0.84% month-over-month seasonally adjusted and up 5.34% year-over-year unadjusted.
- Grocery and beverage stores were up 0.59% month-over-month seasonally adjusted and up 4.27% year-over-year unadjusted.
- Building and garden supply stores were down 0.09% month-over-month seasonally adjusted but up 0.85% year-over-year unadjusted.
