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U.S. Retail Sales Rebound in July

U.S. Retail Sales Rebound in July

NORTH AMERICA–July retail sales (excluding automobiles, gas stations and restaurants) were up 3.5 percent year-over-year and were up 0.6 percent over June on a seasonally adjusted basis, triple the revised 0.2 percent growth seen in June, according to the National Retail Federation.

Year-over-year growth was also up 4 percent on a three-month moving average.

NORTH AMERICA–July retail sales (excluding automobiles, gas stations and restaurants) were up 3.5 percent year-over-year and were up 0.6 percent over June on a seasonally adjusted basis, triple the revised 0.2 percent growth seen in June, according to the National Retail Federation.

Year-over-year growth was also up 4 percent on a three-month moving average.

Despite multiple categories reporting gains, the apparel and electronics industries saw slight declines in July. Specifics include:

  • Online and other non-store sales increased 1.3 percent seasonally adjusted over June and increased 11.4 percent unadjusted year-over-year;
  • Clothing and accessories stores decreased 0.2 percent seasonally adjusted from June and increased 0.1 percent unadjusted year-over-year;
  • General merchandise stores were up 0.1 percent seasonally adjusted over June and were up 1.4 percent unadjusted year-over-year;
  • Electronics and appliances stores decreased 0.5 percent seasonally adjusted from June and were down 1.4 percent unadjusted year-over-year;
  • Furniture and home furnishings stores increased 0.4 percent seasonally adjusted over June and increased 4.3 percent unadjusted year-over-year;
  • Building materials and supplies stores were up 1.2 percent over June and were up 8.5 percent unadjusted year-over-year;
  • Sporting goods stores increased 0.3 percent from June but decreased 5.7 percent year-over-year; and
  • Health and personal care stores increased 0.4 percent over June and increased 1.6 percent unadjusted year-over-year.

“Consumer spending remains solid as retail sales saw healthy improvements in July and revised June numbers were also positive,” says Jack Kleinhenz, chief economist, NRF. “We have yet to see the full effect of back-to-school spending, but pickup in spending was evident both online and in general merchandise, which includes bricks-and-mortar department stores. Rising home values are encouraging home-improvement spending and home-related retail purchases.”

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