TABLE 1A. ESTIMATED MONTHLY SALES FOR RETAIL AND FOOD SERVICES, BY KIND OF BUSINESS--April 2009
*Estimates adjusted for seasonal variations and holiday and trading-day differences, but not for price changes.(Total sales estimates are shown in millions of dollars and are based on data from the Advance Monthly Retail Trade Survey, Monthly Retail Trade Survey, and administrative records.)
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for April, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $337.7 billion, a decrease of 0.4 percent (±0.5%)* from the previous month and 10.1 percent (±0.7%) below April 2008. Total sales for the February through April 2009 period were down 9.2 percent (±0.5%) from the same period a year ago. The February to March 2009 percent change was revised from -1.2 percent (±0.5%) to -1.3 percent (±0.3%).
Retail trade sales were down 0.4 percent (±0.7%)* from March 2009 and 11.4 percent (±0.7%) below last year. Gasoline stations sales were down 36.4 percent (±1.5%) from April 2008 and motor vehicle and parts dealers sales were down 20.7 percent (±2.3%) from last year.
I had stated previously that market had running too fast and too furious, with the expectation of economy recovering by end of the year. US April Retail Sales report serves as good reminder that US economy still in the contraction! As long as the unemployment rate is not reducing, together with bleak outlook expectation, I am afraid that consumer is not going to spend more.
There is always a retracement after the market reach new heights. It is interesting to see whether the market break the support line today.
STI support line = 2133
KLSE support line = 993
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