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by Calculated Risk on 12/15/2022 08:45:00 AM
On a monthly basis, retail sales were up 0.6% from October to November (seasonally adjusted), and sales were up 6.5 percent from November 2021.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for November 2022, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $689.4 billion, down 0.6 percent from the previous month, but up 6.5 percent above November 2021. … The September 2022 to October 2022 percent change was unrevised from up 1.3 percent.
emphasis added
emphasis added
Click on graph for larger image.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline were down 0.6% in November.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail and Food service sales, ex-gasoline, increased by 5.6% on a YoY basis.
Sales in November were below expectations, and sales in September and October were revised down, combined.
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