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e-Sales Doing Well
Perhaps fueled in part by consumer confidence exhibited in an increase in auto sales, lower gasoline prices, and an apparently recovering construction sector, retail e-commerce rode a rising wave in the Third Quarter, up an estimated 3.7% from the second quarter and 17.3% from the third quarter of 2011, the government revealed last month.
Estimated third-quarter retail e-commerce spending ' adjusted for seasonal variation but not for price changes ' tallied up to a nearly even $57 billion ($56.988 billion), the U.S. Census Bureau says.
That figure is 5.2% of the government's estimated third quarter total retail sales of about $1.09 trillion.
The Census Bureau notes that the figure for total estimated quarter sales is also adjusted to accommodate sales-volume fluctuations produced by trading-day differences and moving holidays.
Unadjusted for seasonal variation and other variables, estimated U.S. third-quarter e-retailing was $52.5 billion, a 2.6% increase ('1.1 %) from the second quarter of this year and a 17% increase ('1.9 %) from the third quarter of 2011.
The Census Bureau says total retail sales increased 3.9% ('0.7 %) in the same period.
Unadjusted, estimated third-quarter e-commerce sales rated 4.9% of all estimated retail sales, which the Census Bureau pegged at $1.08 trillion.
The Census Bureau defines e-commerce sales as:
- Goods and services involving an order placed by the buyer, or for which price and terms of sale are negotiated over '
- |
- The Internet;
- An extranet;
- An electronic data interchange (EDI) network
- e-Mail; or
- Another type of online system.
Payment needn't be made online for a purchase to be counted as e-commerce, as the Census Bureau defines such retail activity.
While retail e-commerce activity is an accurate gauge of consumer online purchasing trends ' regardless of whether retail portals are accessed through a computer, smart phone or other device ' tallying of e-tailing volume is also a reliable measure of estimating probable billable-hours and retainer-payment income for lawyers.
Still, retail e-commerce is a sliver of overall e-commerce volume in the United States
By far, business-to-business e-commerce, much of it conducted on in-house and proprietary EDI networks, is the leading method of e-commerce in the United States and in most of the developed world. A substantial portion of such business-to-business transacting, a high volume of it sourcing of raw and semi-finished material for industry and manufacturing, is also these days conducted over Internet-based exchanges among business partners and through Internet connections dedicated to wholesaling.
Other Sectors
The Census Bureau also reported the following changes (nearly every category experienced an increase ' and the list below is a sampling of gains, not the entire Census Bureau listing) in some major economic indicators during the third quarter, and in October, all sectors that have an impact on attorneys generally and on attorneys who represent e-commerce enterprises, whether solely, predominantly, or part-time.
The indicators and changes, reported late last month by the Census Bureau and the Department of Housing and Urban Development, follow.
New Residential Construction for October
Building Permits
Private houses approved by building permits were at a seasonally adjusted annual rate of 866,000 ' 2.7% ('0.8%) under the revised September rate of 890,000 but 29.8% ('1.8%) above October 2011, estimated at 667,000.
Single-family units ' authorized ' in October: 562,000, 2.2% ('0.8%); September's revised figure was 550,000. Authorizations of units in
buildings with five units or more came in at a rate of 280,000 in October.
Housing Starts
Starts on privately owned houses were at a seasonally adjusted annual rate of 894,000 ' up 3.6% ('13.1%) above September's revised estimate of 863,000 and 41.9% ('15.9%) over the October 2011 rate, 630,000.
Single-family starts were 594,000, 0.2% ('10.3%) (statistically insignificant, according to the government), below the revised September figure of 595,000. The October rate for units in buildings with five units or more was 285,000.
Housing Completions
Privately owned completions were at a seasonally adjusted annual rate of 772,000 ' 14.5% ('15.6%) above September's revised estimate of 674,000 and 33.6% ('17.3%) above October 2011's 578,000 units.
Single-family housing completions were 542,000; this is 3.4% ('11.9%) above September's revised rate of 524,000. The October rate for units in buildings with five units or more was 226,000.
Manufacturing and Trade Inventories and Sales
Sales and Shipments
The Census Bureau last month estimated the combined value of distributive trade sales and manufacturers' shipments for September, adjusted for seasonal and trading-day differences but not for price changes, at just under $1.3 trillion, up 1.4% ('0.2%) from August and 4.4% ('0.4%) from September 2011.
Manufacturers' and Trade Inventories
Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at slightly more than $1.6 trillion at the end of September, up 0.7% ('0.1%) from August and up 6.2% ('0.4%) from September of 2011.
Ratios
Total business inventories-to-sales ratio based on seasonally adjusted data at the end of September was 1.28. The September 2011 ratio was 1.25.
The full report on e-commerce sales for the third quarter is available at http://1.usa.gov/10YfKmx.
Michael Lear-Olimpi is Editor-in-Chief of this newsletter. He is also professor of communications and communications program chair at Central Penn College, in suburban Harrisburg, PA, where he is also owner of Susquehanna Editorial Services, which provides writing, editing and editorial consulting (including public-relations and article-placement) services. He can be reached at [email protected].
Perhaps fueled in part by consumer confidence exhibited in an increase in auto sales, lower gasoline prices, and an apparently recovering construction sector, retail e-commerce rode a rising wave in the Third Quarter, up an estimated 3.7% from the second quarter and 17.3% from the third quarter of 2011, the government revealed last month.
Estimated third-quarter retail e-commerce spending ' adjusted for seasonal variation but not for price changes ' tallied up to a nearly even $57 billion ($56.988 billion), the U.S. Census Bureau says.
That figure is 5.2% of the government's estimated third quarter total retail sales of about $1.09 trillion.
The Census Bureau notes that the figure for total estimated quarter sales is also adjusted to accommodate sales-volume fluctuations produced by trading-day differences and moving holidays.
Unadjusted for seasonal variation and other variables, estimated U.S. third-quarter e-retailing was $52.5 billion, a 2.6% increase ('1.1 %) from the second quarter of this year and a 17% increase ('1.9 %) from the third quarter of 2011.
The Census Bureau says total retail sales increased 3.9% ('0.7 %) in the same period.
Unadjusted, estimated third-quarter e-commerce sales rated 4.9% of all estimated retail sales, which the Census Bureau pegged at $1.08 trillion.
The Census Bureau defines e-commerce sales as:
- Goods and services involving an order placed by the buyer, or for which price and terms of sale are negotiated over '
- |
- The Internet;
- An extranet;
- An electronic data interchange (EDI) network
- e-Mail; or
- Another type of online system.
Payment needn't be made online for a purchase to be counted as e-commerce, as the Census Bureau defines such retail activity.
While retail e-commerce activity is an accurate gauge of consumer online purchasing trends ' regardless of whether retail portals are accessed through a computer, smart phone or other device ' tallying of e-tailing volume is also a reliable measure of estimating probable billable-hours and retainer-payment income for lawyers.
Still, retail e-commerce is a sliver of overall e-commerce volume in the United States
By far, business-to-business e-commerce, much of it conducted on in-house and proprietary EDI networks, is the leading method of e-commerce in the United States and in most of the developed world. A substantial portion of such business-to-business transacting, a high volume of it sourcing of raw and semi-finished material for industry and manufacturing, is also these days conducted over Internet-based exchanges among business partners and through Internet connections dedicated to wholesaling.
Other Sectors
The Census Bureau also reported the following changes (nearly every category experienced an increase ' and the list below is a sampling of gains, not the entire Census Bureau listing) in some major economic indicators during the third quarter, and in October, all sectors that have an impact on attorneys generally and on attorneys who represent e-commerce enterprises, whether solely, predominantly, or part-time.
The indicators and changes, reported late last month by the Census Bureau and the Department of Housing and Urban Development, follow.
New Residential Construction for October
Building Permits
Private houses approved by building permits were at a seasonally adjusted annual rate of 866,000 ' 2.7% ('0.8%) under the revised September rate of 890,000 but 29.8% ('1.8%) above October 2011, estimated at 667,000.
Single-family units ' authorized ' in October: 562,000, 2.2% ('0.8%); September's revised figure was 550,000. Authorizations of units in
buildings with five units or more came in at a rate of 280,000 in October.
Housing Starts
Starts on privately owned houses were at a seasonally adjusted annual rate of 894,000 ' up 3.6% ('13.1%) above September's revised estimate of 863,000 and 41.9% ('15.9%) over the October 2011 rate, 630,000.
Single-family starts were 594,000, 0.2% ('10.3%) (statistically insignificant, according to the government), below the revised September figure of 595,000. The October rate for units in buildings with five units or more was 285,000.
Housing Completions
Privately owned completions were at a seasonally adjusted annual rate of 772,000 ' 14.5% ('15.6%) above September's revised estimate of 674,000 and 33.6% ('17.3%) above October 2011's 578,000 units.
Single-family housing completions were 542,000; this is 3.4% ('11.9%) above September's revised rate of 524,000. The October rate for units in buildings with five units or more was 226,000.
Manufacturing and Trade Inventories and Sales
Sales and Shipments
The Census Bureau last month estimated the combined value of distributive trade sales and manufacturers' shipments for September, adjusted for seasonal and trading-day differences but not for price changes, at just under $1.3 trillion, up 1.4% ('0.2%) from August and 4.4% ('0.4%) from September 2011.
Manufacturers' and Trade Inventories
Manufacturers' and trade inventories, adjusted for seasonal variations but not for price changes, were estimated at slightly more than $1.6 trillion at the end of September, up 0.7% ('0.1%) from August and up 6.2% ('0.4%) from September of 2011.
Ratios
Total business inventories-to-sales ratio based on seasonally adjusted data at the end of September was 1.28. The September 2011 ratio was 1.25.
The full report on e-commerce sales for the third quarter is available at http://1.usa.gov/10YfKmx.
Michael Lear-Olimpi is Editor-in-Chief of this newsletter. He is also professor of communications and communications program chair at Central Penn College, in suburban Harrisburg, PA, where he is also owner of Susquehanna Editorial Services, which provides writing, editing and editorial consulting (including public-relations and article-placement) services. He can be reached at [email protected].
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