US Retail Sales Turned Negative in January, Even Before Coronavirus Spread to the US - Forex News by FX Leaders
Retail sales declined in January in the US

US Retail Sales Turned Negative in January, Even Before Coronavirus Spread to the US

Posted Tuesday, March 17, 2020 by
Skerdian Meta • 1 min read

The retail sales report form the US for January was released a while ago. Sales have been positive since September last year, growing at a steady pace by 0.3% on average. Not much but now that coronavirus is killing major economies, that growth seems great.

In January though, sales turned negative in the US, falling by 0.5%, while core retail sales declined by 0.4%. Although, the revision for December in headline sales was quite positive, taking December to 0.6%. But, that’s the past, the present and the future look bleak.

US January Retail Sales Report

  • US February retail sales -0.5% vs +0.2% expected
  • January was +0.3% (revised to +0.6%)
  • Core sales ex. autos -0.4% vs +0.1% expected
  • Ex autos and gas -0.2% vs +0.3% expected
  • Prior ex autos and gas +0.7% (revised to +0.4%)
  • Gasoline sales -2.8% vs -0.4% prior
  • Control group 0.0% vs +0.4% expected
  • Prior control group 0.0% (revised to +0.4%)

US February Industrial Production Sales Report

  • US February industrial production +0.6% vs +0.4% expected
  • January was -0.3%
  • Manufacturing production +0.1% vs +0.2%
  • Capacity utilization 77.0% vs 77.1% expected
  • Prior was 76.8%

We might see a jump in retail sales for February or March, as people rushed to buy groceries and household consumption stuff, like toilet paper, as I heard there was a shortage of it for some time in the US. Yes, we should be clean, but toilet paper doesn’t cure or prevent coronavirus.  Industrial production on the other hand, jumped 0.6% higher in February. But, as I say, these numbers show the life before coronavirus, now life is different.

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