According to the National Retail Federation (NRF), retail industry sales for December (which exclude automobiles, gas stations, and restaurants) rose 3.9 percent unadjusted over last year and increased 0.4 percent seasonally adjusted from November. November industry sales were revised down from 6.3 percent unadjusted to 5.1 percent unadjusted.
December retail sales released today by the U.S. Commerce Department show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) rose 0.9 percent seasonally adjusted from November and increased 3.6 percent unadjusted year-over-year.
“Unseasonably warmer weather and the slower housing market had a clear impact on consumer spending,” said NRF Chief Economist Rosalind Wells. “NRF expects these subdued gains to continue into the first half of 2007.”
Last month was the second month in a row where I took issue with the official government number. This type of news release leads to me to believe the new official Census sample is a bit off and will again be lowered with the next consumer numbers.
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2 comments:
They always say that and its irratating as hell. I was out spending like an idiot for xmas. What do they fricking want, my first born.....!
They don't always say that ... when they are going flat out, selling out their inventories without little left for the post Christmas sales but returns ... then they'll say sales were "brisk". Happens once every decade or two.
"Subdued" is a bit scary. Not as scary as "dissappointing", which is katie-bar-the-door time, but a bit scary.
Still hanging on til January year on year inventory levels.
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