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U.S. Retail Sales Gain Traction in June

U.S. Retail Sales Gain Traction in June

NORTH AMERICA–June retail sales (excluding automobiles, gas stations and restaurants) were up 3.2 percent adjusted from June 2016 and were essentially unchanged over May on a seasonal adjusted basis, according to the National Retail Federation.

Retail sales also increased 3.9 percent year-over-year on a three-month moving average.

NORTH AMERICA–June retail sales (excluding automobiles, gas stations and restaurants) were up 3.2 percent adjusted from June 2016 and were essentially unchanged over May on a seasonal adjusted basis, according to the National Retail Federation.

The organization also found that sales increased 3.9 percent on a three-month moving average year-over-year. Sales for the month were driven by online and other non-store sales; however, multiple categories experienced gains. Highlights include:

  • Online and other non-store sales increased 0.4 percent seasonally adjusted over May and 9.9 percent unadjusted year-over-year;
  • Clothing and accessories stores decreased 0.1 percent from May and increased 1 percent year-over-year;
  • General merchandise stores jumped 0.4 percent over May and 2.3 percent year-over-year;
  • Electronics and appliances stores’ sales increased 1 percent over May and 1.6 percent unadjusted year-over-year;
  • Furniture and home furnishings sales gained 1 percent from May and 3.5 percent unadjusted year-over-year;
  • Building materials and supplies stores’ sales increased 5 percent from May and 5.1 percent year-over-year;
  • Sporting goods stores’ sales decreased 0.6 percent over May and 7.7 percent year-over-year; and
  • Health and personal care stores’ sales jumped 0.3 percent from May and 0.9 percent year-over-year.

“Deflating pricing in retail continues to aggravate measurements of spending in June,” says Jack Kleinhenz, chief economist, NRF. “Consumers continue to make purchases, but total sales reflect depressed prices on the volume of goods purchased. Nonetheless, consumer fundamentals remain solid, with no expectations for spending to cool off in the remaining summer months.”

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