Home Logon FTA Investment Managers Blog Subscribe About Us Contact Us

Search by Ticker, Keyword or CUSIP       
 
 

Blog Home
   Brian Wesbury
Chief Economist
 
Bio
X •  LinkedIn
   Bob Stein
Deputy Chief Economist
Bio
X •  LinkedIn
 
  Retail Sales Rose 0.1% in November
Posted Under: Data Watch • Retail Sales
Supporting Image for Blog Post

 

Implications:  After robust gains the past couple months, retail sales grew at a more Plow Horse pace in November.  However, nothing in today's sales report should stop the Fed from raising short-term interest rates by a quarter-point later today.  Retail sales rose 0.1% in November following gains of 0.6% and 1.0% in October and September.  In the past year retail sales are up a solid 3.8% but have been accelerating, up at a 5.1% annual rate in the past six months and at a 7.0% rate in the past three months.  The biggest gain in November came from restaurants & bars.  Outside of this sector, the small gains were broad-based, with nine of thirteen major categories showing growth in October.  Sales at gas stations rose 0.3% in November and are now up 4% from a year ago.  "Core" sales, which exclude autos, building materials, and gas, rose 0.2% in November and are up 3.7% from a year ago.  Look for continued growth in consumer spending in the months ahead.  Employment continues to expand, while wage growth is accelerating and consumer debt service obligations remain very low by historical standards.  In the meantime, today's data suggest real GDP growth for the third quarter will be unrevised at a 3.2% annual rate.  For the fourth quarter, we are tracking real GDP growth of around 2%.  Watch for faster economic growth in 2017, however, as the overall policy mix from the government shifts in favor of faster growth. 

Click here for PDF version    

Posted on Wednesday, December 14, 2016 @ 11:12 AM • Post Link Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
 PREVIOUS POSTS
The Producer Price Index Rose 0.4% in November
Rally is Real, Not “Hope & Faith”
Dow 36,000
The Trade Deficit in Goods and Services Came in at $42.6 Billion in October
Nonfarm Productivity Increased at a 3.1% Annual Rate in the Third Quarter
M2 and C&I Loan Growth
Caution on Dollar-Meddling
The ISM Non-Manufacturing Index Rose to 57.2 in November from 54.8 in October
Nonfarm Payrolls Increased 178,000 in November
Populist Uprising or Conservative Revival?
Archive
Skip Navigation Links.
Expand 20242024
Expand 20232023
Expand 20222022
Expand 20212021
Expand 20202020
Expand 20192019
Expand 20182018
Expand 20172017
Expand 20162016
Expand 20152015
Expand 20142014
Expand 20132013
Expand 20122012
Expand 20112011
Expand 20102010

Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
Follow First Trust:  
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2024 All rights reserved.