Newsroom
February 14, 2018
January retail sales see biggest decline in nearly a year
Total retail sales decreased 0.3 percent in January – its biggest decline in nearly a year. NAFCU Research Assistant Yun Cohen said retail sales were down due to slowing vehicle sales.
"Despite the weak readings, the outlook for retail sales remains positive in light of a strong labor market and tax stimulus," she said in a NAFCU Macro Data Flash report Wednesday.
Core retail sales (excluding light vehicles and gasoline) decreased 0.2 percent in January; auto and gas sales declined 0.5 percent during the month.
Year-over-year growth in retail sales was 3.6 percent in January, down from 5.2 percent in December. Core retail sales increased 3.7 percent from a year ago, while auto and gas sales rose 3.6 percent from last year.
Results among the major retail segments were mixed in January. Gasoline stations and miscellaneous store retailers both reported a sales increase of 1.6 percent, followed by apparel stores (+1.2 percent) and electronics stores (+0.5 percent). Sales at building supply stores decreased 2.4 percent, followed by auto and parts dealers (-1.3 percent) and pharmacies (-1.2 percent).
According to data published by the Census Bureau, December's sales were revised down from 0.4 percent growth to unchanged, and November's growth was revised down from 0.9 percent to 0.8 percent.
"Despite the weak readings, the outlook for retail sales remains positive in light of a strong labor market and tax stimulus," she said in a NAFCU Macro Data Flash report Wednesday.
Core retail sales (excluding light vehicles and gasoline) decreased 0.2 percent in January; auto and gas sales declined 0.5 percent during the month.
Year-over-year growth in retail sales was 3.6 percent in January, down from 5.2 percent in December. Core retail sales increased 3.7 percent from a year ago, while auto and gas sales rose 3.6 percent from last year.
Results among the major retail segments were mixed in January. Gasoline stations and miscellaneous store retailers both reported a sales increase of 1.6 percent, followed by apparel stores (+1.2 percent) and electronics stores (+0.5 percent). Sales at building supply stores decreased 2.4 percent, followed by auto and parts dealers (-1.3 percent) and pharmacies (-1.2 percent).
According to data published by the Census Bureau, December's sales were revised down from 0.4 percent growth to unchanged, and November's growth was revised down from 0.9 percent to 0.8 percent.
Share This
Related Resources
Add to Calendar 2024-05-06 14:00:00 2024-05-06 14:00:00 Overview of Regulation CC Join us for this webinar, Overview of Regulation CC, and you’ll delve into the intricacies of the Expedited Funds Availability Act and Regulation CC. This includes gaining invaluable insights on effectively implementing funds availability requirements, navigating the process of placing holds on deposited items and crafting comprehensive disclosures for your members. Don't miss this opportunity to enhance your understanding of regulatory compliance in the financial landscape. Key Takeaways Know the funds availability requirements Learn what must be included in disclosures Comprehend extended holds Register Now $295 Members | $395 Nonmembers(Additional $50 for USB)One registration gives your entire team access to the live webinar and on-demand recording until April 18, 2025Go to the Online Training Center to access the webinar after purchase » Who Should Attend NCCOs NCRMs Compliance and risk titles Education Credits NCCOs will receive 1.0 CEUs for participating in this webinar NCRMs will recieve 1.0 CEUs for participating in this webinar Web NAFCU digital@nafcu.org America/New_York public
Overview of Regulation CC
Credits: NCCO, NCRM
Webinar
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Add to Calendar 2024-05-03 09:00:00 2024-05-03 09:00:00 Blind Spots in the Boardroom Listen On: Key Takeaways: [04:19] For a board to change its practices first it needs to be committed to different outcomes. It takes about 30 times for a board to start to be in a new conversation before they start to get their brain rewired to embody the change [07:24] In merger conversations we lose sight of what is important for the member. We need to look at what the continuing organization will look like and what is the leadership the membership and continuing organization need and deserve. [12:39] An educated board and executive team are a sharper team. When you have sharper leaders in the organization good things come from that. [24:22] If we are not taking care of that relationship with the CEO then we are strategically hampered. With a good CEO evaluation, the board is higher performing, the CEO is more attentive to being high performing, and the relationship is high performing and more genitive. Web NAFCU digital@nafcu.org America/New_York public
Blind Spots in the Boardroom
preferred partner
DDJ Myers
Podcast
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Get daily updates.
Subscribe to NAFCU today.