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June Retail Sales 'Steady' Despite Trade UncertaintyJune Retail Sales 'Steady' Despite Trade Uncertainty
June retail sales (excluding automobiles, gas stations and restaurants) were up 4.2 percent, adjusted from June 2017 and increased by 0.07 percent, despite the U.S. trade war with China and other countries, according to the National Retail Federation.
License Global
July 16, 2018
2 Min Read
June retail sales (excluding automobiles, gas stations and restaurants) were up 4.2 percent, adjusted from June 2017 and increased by 0.07 percent, despite the U.S. trade war with China and other countries, according to the National Retail Federation.
The organization also found that sales increased 4.4 percent on a three-month moving average year-over-year. The meet the higher end of the NRF’s projected growth of 3.8 percent and 4.4 percent per 2017. Overall June sales increased 0.5 percent seasonally adjusted from May and 6.6 year-over-year.
Highlights include:
Online and other non-store sales increased 1.3 percent month-over-month seasonally adjusted over May and 7.3 percent unadjusted year-over-year;
Clothing and accessories stores decreased 2.5 percent month over month from May and increased 4.6 percent year-over-year;
General merchandise stores jumped 0.8 percent month-over-month seasonally adjusted and 3.1 percent year-over-year;
Electronics and appliances stores’ sales decreased 0.4 percent over May and 1.6 percent year-over-year;
Furniture and home furnishings sales gained 0.6 percent from month-over-month seasonally adjusted and 4.4 percent year-over-year;
Building materials and garden supplies stores’ sales increased 0.8 percent from May and 2.8 percent year-over-year;
Sporting goods stores’ sales decreased 3.2 percent over May and 3.7 percent year-over-year; and
Health and personal care stores’ sales jumped 2.2 percent from month—over month seasonally adjusted and 5.8 percent year-over-year.
“This is a healthy retail sales report and consistent with underlying economic momentum that has fueled a steady run of retail sales increases,” says Jack Kleinhenz, chief economist, NRF. “The big question is whether households can continue this spending pace, which is helping drive the current economic cycle. We think they can, but the big risk to the outlook is the trade war, which could raise prices while reducing consumer confidence and household buying power.”
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