Retail sales numbers from the Commerce Department, chart by Mish.According to the Census Department Advance Estimate, retail sales rose 0.4 percent in October.

Advance estimates of U.S. retail and food services sales for December 2024, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $729.2 billion, an increase of 0.4 percent from the previous month, and up 3.9 percent from December 2023. Total sales for the 12 months of 2024 were up 3.0 percent from 2023.

Total sales for the October 2024 through December 2024 period were up 3.7 percent from the same period a year ago. The October 2024 to November 2024 percent change was revised from up 0.7 percent to up 0.8 percent.

The key line above is “adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.” These are nominal sales, not adjusted for inflation.Nominal Advance Retail Sales Percent Change Nominal Retail Sales Percent Change

Note that cars are counted as “sales” when they are shipped from the manufacturer to the dealer, not when a consumer actually buys a car.Real vs Nominal Advance Retail Sales Percent Change Adjusted for inflation, retail sales are up 1.0 percent from a year ago.Real Retail Sales Detail Millions of Dollars In April of 2021, real sales were $233,440 million at a seasonally adjusted annualized rate. They are now $229,533 million, down 1.7 percent.In nominal terms, sales rose from $622,705 million in April of 2021 to $729,191 million, an increase of 17 percent.The chart and numbers above put a needed perspective on the allegedly strong consumer.CPI Jumps 0.4 Percent in DecemberYesterday, I commented CPI Jumps 0.4 Percent in December, Markets Giddy AnywayAlso see Strong Upward Pressure on the Cost of Food, What’s in Your Basket?The price pressures on food explain the increase in nominal food stores sales of 0.8 percent.More By This Author:Strong Upward Pressure On The Cost Of Food, What’s In Your Basket? CPI Jumps 0.4 Percent In December, Markets Giddy AnywayA Mostly Good PPI Report With Easy Year-Over-Year Comparisons Coming Up