Courtesy of Mish.
Retail sales rose a mere 0.1% in November according to the Census Department Advance Monthly Retail Trade Report. The increase was against an October reading revised from +0.8% to +0.6%. Effectively, sales declined, led by autos. Let’s dive into the numbers.
Advance Retail Sales Percentages
Amazon is clobbering general merchandise stores, especially department stores. L.D. stands for leased departments in stores.
For the year, sales at general merchandise stores are down 1.3% and department store sales are down a whopping 6.4%.
Sales at nonstore retailers, of which Amazon is the largest, are up 11.9%.
Advance Retail Sales Numbers
Auto sales and parts account for 20.75% of the 11-month total for 2016. For the month, sales declined 0.5%.
