Retail sales growth continues to slow in March 2022
ADVANCE MONTHLY SALES
Modified 2022-05-05T16:40:59-04:00
Goran Soko / CSIMarket.com Contributer
The growth in retail and food services sales, continues to slow, after the slowdown in February 2022, as as the americans shop less over the internet, soften total sales.
Retail sales including food services grew in March 2022 by 0.5 % on the seasonally adjusted basis to $665.7 billion, reported by the Commerce Department. Food, clothing and gasoline sales grew above averge in the last month.
Fueled by growing prices, gasoline stations were expected to have a banner month, and they did: Monthly sales jumped 8.86 %.
Soft sales are generally unwelcomed news for investors, as retail sales account for about half of total consumer spending and about a third of final sales in the U.S. economy.
Higher retail spending, in turn, has spurred companies to boost their inventories in anticipation of rising sales. Over the last 12 months, retail sales soared by 7.4 %, led by increase in gasoline stations sales by 37.3 %.
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| Fuels & Transportation |
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Core sales has climbed sequentially by 1.1 % to $532 billion on the seasonally adjusted basis, sales grew at clothing stores, sporting goods, hobby, book, music stores and electronics and appliance stores. Online shopping sales fell.
Motor vehicle and parts sales often realize sharp month-to-month swings and can mask underlying retail trends.
From March 2021, core sales jumped by 9.9 %.
Sales of essentials continue to grow by higher rate, sale of essentials like groceries and gasoline jumped by 3.2 % on the seasonally adjusted basis, as gasoline station sales increased the most, representing 9.59 % of total U.S. retail and food services sales. Compare to a year ago sales of essentials soared by 19.7 % to $63.9 billion.
Ordinarily, rising gas prices take a toll on consumer confidence, but this time it seems that consumers have ignored higher prices at the pump.
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Retail Sales
In March 2022, sales improved 2.6% at clothing and accessories stores, building materials dealers grew by 0.5%, electronics and appliance stores increased by 3.3%.
Meanwhile, sales declined -0.3% at department stores, health and personal care stores -0.3%, internet retailers fell by -100%.
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Retail Sales by Category
(In millions $)
ADVANCE
MONTHLY SALES
( in millions $) |
March 2022
adv. |
Feb. 2022
adv. |
Jan. 2022
adv. |
Dec. 2021
adv. |
Nov. 2021
adv. |
| Retail & food services
total |
|
665,726 |
662,417 |
656,117 |
626,289 |
639,067 |
| Total excl. motor
vehicle & parts |
|
532,011 |
526,050 |
521,987 |
500,919 |
512,272 |
| Retail |
|
590,365 |
587,808 |
583,981 |
553,621 |
565,932 |
| GAFO |
|
468,161 |
467,397 |
467,409 |
445,800 |
457,246 |
| Motor vehicle & parts dealers |
|
133,715 |
136,367 |
134,130 |
125,370 |
126,795 |
| Auto & other motor veh. dealers |
|
123,735 |
126,354 |
123,999 |
115,384 |
117,256 |
| Furniture & home furnishings
stores |
|
12,861 |
12,776 |
12,441 |
11,590 |
12,484 |
| Electronics & appliance stores |
|
7,527 |
7,285 |
7,316 |
7,179 |
7,622 |
| Appl. TV & camera |
|
- |
- |
- |
- |
- |
| Computer & software stores |
|
- |
- |
- |
- |
- |
| Building mat. &
garden eq. & supplies dealers |
|
43,602 |
43,387 |
43,217 |
42,330 |
41,371 |
| Building mat. & supplies dealers |
|
- |
38,015 |
37,850 |
36,752 |
35,918 |
| Food & beverage stores |
|
79,069 |
78,263 |
78,498 |
77,682 |
77,778 |
| Grocery stores |
|
70,729 |
69,840 |
70,235 |
69,581 |
69,467 |
| Beer, wine & liquor stores |
|
- |
6,088 |
5,918 |
5,785 |
5,936 |
| Health & personal care stores |
|
32,522 |
32,617 |
32,868 |
32,730 |
32,208 |
| Pharmacies & drug stores |
|
- |
27,064 |
27,836 |
27,770 |
27,089 |
| Gasoline stations |
|
63,850 |
58,653 |
54,578 |
55,119 |
55,026 |
| Clothing & clothing accessories
stores |
|
26,936 |
26,247 |
26,184 |
25,937 |
26,885 |
| Men's clothing stores |
|
- |
- |
- |
- |
- |
| Women's clothing stores |
|
- |
3,453 |
3,466 |
3,311 |
3,304 |
| Shoe stores |
|
- |
3,190 |
3,231 |
3,338 |
3,388 |
| Sporting goods, hobby, book &
music |
|
9,429 |
9,129 |
8,819 |
8,959 |
9,553 |
| General merchandise stores |
|
74,863 |
71,039 |
71,184 |
69,578 |
70,730 |
| Department stores ex. LD |
|
12,141 |
12,176 |
11,974 |
10,926 |
11,747 |
| Other general merchandise
stores |
|
- |
58,863 |
59,210 |
58,652 |
58,983 |
| Warehouse clubs & superstores |
|
- |
50,822 |
51,102 |
50,578 |
50,951 |
| All other gen. merchandise
stores |
|
- |
8,041 |
8,108 |
8,074 |
8,032 |
| Miscellaneous store retailers |
|
15,641 |
15,510 |
15,251 |
14,834 |
15,017 |
| Nonstore retailers |
|
- |
86,802 |
89,836 |
73,501 |
81,389 |
| Electronic shopping & mail-order
houses |
|
- |
86,802 |
89,836 |
73,501 |
81,389 |
| Food services & drinking places |
|
75,361 |
74,609 |
72,136 |
72,668 |
73,135 |
ADVANCE MONTHLY SALES
( in % Y / Y) |
March 2022
adv. |
Feb. 2022
adv. |
Jan. 2022
adv. |
Dec. 2021
adv. |
Nov. 2021
adv. |
| Retail & food services
total |
7.41 % |
17.51 % |
13.29 % |
16.05 % |
17.34 % |
| Total excl. motor
vehicle & parts |
9.85 % |
17.63 % |
13.89 % |
18.02 % |
18.7 % |
| Retail |
6.03 % |
15.5 % |
11.54 % |
13.31 % |
15.24 % |
| GAFO |
6.94 % |
15.31 % |
11.82 % |
15.28 % |
15.43 % |
| Motor vehicle & parts dealers
|
-1.32 % |
17.02 % |
11.04 % |
8.81 % |
12.12 % |
| Auto & other motor veh. dealers
|
-1.83 % |
16.89 % |
10.52 % |
7.91 % |
11.84 % |
| Furniture & home furnishings
stores |
3.68 % |
16.3 % |
8.69 % |
14.36 % |
22.77 % |
| Electronics & appliance stores
|
-9.63 % |
-5.32 % |
-7.53 % |
5.53 % |
7.66 % |
| Appl. TV & camera |
- % |
- % |
- % |
- % |
- % |
| Computer & software stores
|
- % |
- % |
- % |
- % |
- % |
| Building mat. &
garden eq. & supplies dealers |
0.53 % |
10.71 % |
7.88 % |
10.59 % |
8.68 % |
| Building mat. & supplies dealers |
- % |
12.39 % |
8.63 % |
9.93 % |
7.81 % |
| Food & beverage stores |
8.5 % |
9.5 % |
9.2 % |
10.47 % |
9.08 % |
| Grocery stores |
9.61 % |
10.48 % |
10.37 % |
11.31 % |
9.76 % |
| Beer, wine & liquor stores |
- % |
-2.06 % |
-4.67 % |
-1.04 % |
-1.33 % |
| Health & personal care stores |
1.46 % |
3.45 % |
2.06 % |
3.99 % |
3.36 % |
| Pharmacies & drug stores |
- % |
2.34 % |
- % |
4.01 % |
2.63 % |
| Gasoline stations |
37.3 % |
40.16 % |
35.35 % |
46.1 % |
55.24 % |
| Clothing & clothing accessories
stores |
8.79 % |
35.76 % |
29.72 % |
36.1 % |
44.71 % |
| Men's clothing stores |
- % |
- % |
- % |
- % |
- % |
| Women's clothing stores |
- % |
27 % |
22.34 % |
27.99 % |
31.63 % |
| Shoe stores |
- % |
39.67 % |
15.06 % |
32.09 % |
42.89 % |
| Sporting goods, hobby, book &
music |
-5.43 % |
17.54 % |
6.01 % |
18.54 % |
24.27 % |
| General merchandise stores
|
8.46 % |
13.83 % |
7.7 % |
15.56 % |
15.57 % |
| Department stores ex. LD |
8.93 %
|
27.3 %
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16.51 %
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26.02 %
|
30.52 %
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| Other general merchandise
stores |
- % |
11.4 % |
6.07 % |
13.8 % |
12.99 % |
| Warehouse clubs & superstores |
- % |
11.96 % |
7.04 % |
14.41 % |
14.42 % |
| All other gen. merchandise
stores |
- % |
7.96 % |
0.4 % |
10.15 % |
4.73 % |
| Miscellaneous store retailers
|
13.87 % |
26.09 % |
20.69 % |
17.84 % |
27.07 % |
| Nonstore retailers |
- % |
8.9 % |
7.18 % |
2.16 % |
4.21 % |
| Electronic shopping & mail-order
houses |
- % |
8.9 % |
7.18 % |
2.16 % |
4.21 % |
| Food services & drinking places
|
19.65 % |
36.08 % |
29.78 % |
42.23 % |
36.55 % |
ADVANCE MONTHLY SALES
( in % M / M) |
March 2022
adv. |
Feb. 2022
adv. |
Jan. 2022
adv. |
Dec. 2021
adv. |
Nov. 2021
adv. |
| Retail & food services
total |
0.5 % |
0.96 % |
4.76 % |
-2 % |
0.14 % |
| Total excl. motor
vehicle & parts |
1.13 % |
0.78 % |
4.21 % |
-2.22 % |
0.13 % |
| Retail |
0.44 % |
0.66 % |
5.48 % |
-2.18 % |
0.13 % |
| GAFO |
0.16 % |
-0 % |
4.85 % |
-2.5 % |
-0.09 % |
| Motor vehicle & parts dealers
|
-1.94 % |
1.67 % |
6.99 % |
-1.12 % |
0.18 % |
| Auto & other motor veh. dealers
|
-2.07 % |
1.9 % |
7.47 % |
-1.6 % |
0.29 % |
| Furniture & home furnishings
stores |
0.67 % |
2.69 % |
7.34 % |
-7.16 % |
0.31 % |
| Electronics & appliance stores
|
3.32 % |
-0.42 % |
1.91 % |
-5.81 % |
-9.08 % |
| Appl. TV & camera |
- % |
- % |
- % |
- % |
- % |
| Computer & software stores
|
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| Building mat. &
garden eq. & supplies dealers |
0.5 % |
0.39 % |
2.1 % |
2.32 % |
2.71 % |
| Building mat. & supplies dealers |
- % |
0.44 % |
2.99 % |
2.32 % |
2.86 % |
| Food & beverage stores |
1.03 % |
-0.3 % |
1.05 % |
-0.12 % |
0.45 % |
| Grocery stores |
1.27 % |
-0.56 % |
0.94 % |
0.16 % |
0.18 % |
| Beer, wine & liquor stores |
- % |
2.87 % |
2.3 % |
-2.54 % |
1.96 % |
| Health & personal care stores |
-0.29 % |
-0.76 % |
0.42 % |
1.62 % |
1.11 % |
| Pharmacies & drug stores |
- % |
-2.77 % |
0.24 % |
2.51 % |
0.27 % |
| Gasoline stations |
8.86 % |
7.47 % |
-0.98 % |
0.17 % |
1.95 % |
| Clothing & clothing accessories
stores |
2.63 % |
0.24 % |
0.95 % |
-3.53 % |
2.03 % |
| Men's clothing stores |
- % |
- % |
- % |
- % |
- % |
| Women's clothing stores |
- % |
-0.38 % |
4.68 % |
0.21 % |
2.74 % |
| Shoe stores |
- % |
-1.27 % |
-3.21 % |
-1.48 % |
0.41 % |
| Sporting goods, hobby, book &
music |
3.29 % |
3.52 % |
-1.56 % |
-6.22 % |
2.27 % |
| General merchandise stores
|
5.38 % |
-0.2 % |
2.31 % |
-1.63 % |
-1.09 % |
| Department stores ex. LD |
-0.29 % |
1.69 % |
9.59 % |
-6.99 % |
-5.49 % |
| Other general merchandise
stores |
- % |
-0.59 % |
0.95 % |
-0.56 % |
-0.16 % |
| Warehouse clubs &
superstores |
- % |
-0.55 % |
1.04 % |
-0.73 % |
-0.32 % |
| All other gen. merchandise
stores |
- % |
-0.83 % |
0.42 % |
0.52 % |
0.89 % |
| Miscellaneous store retailers
|
0.84 % |
1.7 % |
2.81 % |
-1.22 % |
0.59 % |
| Nonstore retailers |
- % |
-3.38 % |
22.22 % |
-9.69 % |
-1.75 % |
| Electronic shopping & mail-order
houses |
- % |
-3.38 % |
22.22 % |
-9.69 % |
-1.75 % |
| Food services & drinking places
|
1.01 % |
3.43 % |
-0.73 % |
-0.64 % |
0.2 % |
Source: Department of Commerce
• Census.gov
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