Total Sales Ex-Auto Up By 3.3% Year-Over-Year
Month-to-Month Growth of 3.1%; Highest Gain since January 2009
PURCHASE, N.Y.--(BUSINESS WIRE)--MasterCard Advisors:
“Retail spending seems to have finally gained some momentum after several months of sluggishness, showing a year-over-year growth rate better than twice the average of the previous three months”
SpendingPulse™ | |
Data Source: | A macroeconomic indicator, SpendingPulse reports on national retail and services sales and is based on aggregate sales activity in the MasterCard payments network, coupled with survey-based estimates for all other payment forms, including cash and check. MasterCard SpendingPulse does not represent MasterCard financial performance. SpendingPulse is provided by MasterCard Advisors, the professional services arm of MasterCard Worldwide. |
MasterCard Advisors’ SpendingPulse, a macro-economic report tracking national retail and service sales, today provided summary results for October 2010. Kamalesh Rao, Director of Economic Research for MasterCard Advisors SpendingPulse, reported that in October total retail sales, ex-auto, grew by 3.3% year-over-year, the strongest year‐to‐year pace since April. Similarly, seasonally adjusted month-to-month sales were up by 3.1%. Excluding both auto and gasoline, on a seasonally unadjusted basis, year-over-year sales in October grew by 2.7%, slightly more than double September’s 1.3% increase.
| To watch a short video with additional commentary from Kamalesh Rao, please visit: |
“Retail spending seems to have finally gained some momentum after several months of sluggishness, showing a year-over-year growth rate better than twice the average of the previous three months,” said Rao. “On a seasonally adjusted month-to-month basis, October was up 3.1%, which was the third straight month of growth, following four months of decline. And while the rebound in gasoline spending has helped drive the retail number, the ex-auto, ex-gas numbers show a moderate resurgence as well. This is a welcome sign as we head into the holiday season, as it indicates that in spite of the continuing high unemployment rate there is some life in discretionary spending, particularly in sectors with low or flexible price points.”
Sectors showing positive results included eCommerce and grocery, with apparel showing particular strength – its third consecutive month of year-over-year growth. Department store sales declined, as did electronics and appliances, despite earlier growth, and airlines posted their first decline since June 2009.
Spending grew in every part of the country, with the best unadjusted year-over-results in the Mid-Atlantic and South Central regions at close to or above 5.5%. The Northeast, Pacific and Great Plains lagged, posting gains of between 1% and 2% on a seasonally unadjusted year-over-year basis.
U.S. Retail Sales, Unadjusted Year/Year %Change | ||||||||
U.S. Retail Sales | October 2010 | September 2010 | ||||||
| Total Retail Ex Auto | +3.3 | % | +1.4 | % | ||||
| Total Ex Auto Ex Gas | +2.7 | % | +1.3 | % | ||||
U.S. Retail Sales, Seasonally Adjusted for October | ||||||||
| U.S. Retail Sales | % Change Over | % Change Over | ||||||
Prior Month | Prior Year | |||||||
| Total Retail Ex Auto | +3.1 | % | +5.0 | % | ||||
| Total Ex Auto Ex Gas | +1.5 | % | +5.4 | % | ||||
About MasterCard Advisors
MasterCard Advisors provides payments consulting, information, analytics, and customized services to financial institutions and their merchant partners worldwide. Addressing complex challenges in strategy, marketing, risk, and operations, MasterCard Advisors helps clients maximize the value of their payments businesses. As the professional services arm of MasterCard Worldwide, MasterCard Advisors is uniquely qualified to provide clients with insights and solutions that drive tangible impact and financial gain. For more information, go to www.mastercardadvisors.com.
About MasterCard Worldwide
As a leading global payments company, MasterCard Worldwide prides itself on being at the heart of commerce, helping to make life easier and more efficient for everyone, everywhere. MasterCard serves as a franchisor, processor and advisor to the payments industry, and makes commerce happen by providing a critical economic link among financial institutions, governments, businesses, merchants, and cardholders worldwide. In 2009, $2.5 trillion in gross dollar volume was generated on its products by consumers around the world. Powered by the MasterCard Worldwide Network – the fastest payment processing network in the world – MasterCard processes over 22 billion transactions each year, has the capacity to handle 140 million transactions per hour, with an average network response time of 140 milliseconds and with 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard®, Maestro®, and Cirrus®; its suite of core products such as credit, debit, and prepaid; and its innovative platforms and functionalities, such as MasterCard PayPass™ and MasterCard inControl™. MasterCard serves consumers, governments, and businesses in more than 210 countries and territories. For more information, please visit us at www.mastercard.com. Follow us on Twitter: @mastercardnews.
Contacts
Meir Kahtan Public Relations, LLC
Meir Kahtan, +1-212-575-8188
mkahtan@rcn.com
or
MasterCard Worldwide
Naya Larsson, +1-914-249-3916
naya_larsson@mastercard.com
Meir Kahtan, +1-212-575-8188
mkahtan@rcn.com
or
MasterCard Worldwide
Naya Larsson, +1-914-249-3916
naya_larsson@mastercard.com
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