CALIFORNIA BUSINESS MINUTE
Retail Sales
01-12-12
Hi, I am Tim Johnson and welcome to the California Business Minute.
The US Commerce Department reported that the advance estimates of U.S. retail
and food services sales for December, adjusted for seasonal variation and holiday
and trading-day differences, but not for price changes, were $400.6 billion, an
increase of 0.1 percent (±0.5%)* from the previous month and 6.5 percent (±0.7%)
above December 2010. Total sales for the 12 months of 2011 were up 7.7 percent
(±0.4%) from 2010.
While December retail sales advanced they were less than what analysts had
forecasted. Retail sales in December edged up 0.1 percent, following a 0.4
percent rise in November (originally up 0.2 percent) and 0.7 percent gain
in October (previously up 0.6 percent). Apparently holiday shoppers shopped
early, taking advantage of Black Friday and Cyber Monday and did not return.
The declines were seen in several sectors one of which was a big surprise in
electronics and appliance stores, food and beverage stores along with general
merchandise stores.
Increases were seen in home furnishings, building materials and garden dealers,
health and personal care stores, clothing and clothing accessories, sporting
goods, hobby, books and music stores.
I am Tim Johnson and this has been the California Business Minute.
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