Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  June 14, 2011 15:14:22

U.S. - Retail sales fell in May, but significantly less than expected

Retail sales in the U.S. fell in May month on month by 0.2% compared to the April increase of 0.3%. The market, however, allowed to fall by 0.5% in the range of estimates from 0 to -1.4%.

6 of 13 major sectors tracked showed a decline, led by a 2.9% drop in car sales. The result was the worst since February 2010. The decline in sales of cars associated with the lack of Japanese cars, which is related to the consequences of a devastating earthquake and tsunami. Dwindling stocks of cars cause less pressure on the discounts, which causes less interested potential clients.

Excluding the automotive sector reported a sales increase monthly by 0.3%. Excluding the automotive sector, fuel and building materials (the figure for the calculation of GDP) grew sales by 0.2% compared to the April increase of 0.3%. May result in this regard is the worst this year.

Revenues from gas stations rose by 0.3%. The average price of gasoline in May compared to April rose by 10 cents and reached a level of $ 3.9 per gallon.

Sales retailers without stores (online retailers, Internet) in May rose by 1.2%. Restaurant sales increased by 0.6%.

Equity and futures markets in Europe are responding favorably to the report and generally enhance its existing growth.
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