The Census Bureau has released the August Advanced Monthly Retail Sales. This release does not include inflation adjustments, so I have added inflation into the following graph, as well as Stimulus Payouts.
While the headlines noted a "rebound", it should be pointed out that one months does not make a trende. 5 months do appear to be trending down on both current dollar and inflation adjusted dollars.
The downward pressure continues from the Auto sector, which is down 8.0% from June. Clothing and clothing accessories down 2.7% from June. Sporting goods, hobby, musical instrument, & book stores down 4.6%. All unadjusted for inflation.
Overall, the report was down 1.1% from June... without factoring inflation, which would push it down 1.8%.
Most of that "rebound" is in the area of non store retailers, electronic shopping and mail order houses up 0.4% from June. General Merchandise stores also contributed to the "rebound" with 2.4% unadjusted for inflation.
Excluding the auto sector, the report indicated 0.077% boost over June, unadjusted. Adjusted for inflation, this sector rose 0.008%.
I find it difficult to shoot for joy, with this report, as it appears more of a flat line with tendency downward. A lot of questions...
Is the stimulus boost waning, is it supply chain issues, is it the inflation?
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