US Retail Sales Picking Up Steam

US retail trade rose by 0.5 percent month-over-month in June 2018, following an upwardly revised 1.3 percent advance in May and matching market expectations. June's gains were mainly boosted by increases in purchases of motor vehicles. 

8 of 13 major retail categories showed month-over-month increases.

Sales at motor vehicle & parts dealers advanced 0.9 percent in June (vs 0.8 percent in May) and those at gasoline stations increased 1 percent (vs 3 percent in May). Sales at building material stores increased 0.8 percent last month (vs 2.5 percent in May), and online and mail-order retail trade surged 1.3 percent (vs 0.4 percent in May), the biggest gain since November 2017. Sales also rose at: furniture & home furniture stores (0.6 percent vs -1.4 percent); health & personal care stores (2.2 percent vs 1.3 percent); miscellaneous store retailers (0.2 percent vs 1.2 percent); and food services & drinking places (1.5 percent vs 2.6 percent).

Meanwhile, receipts at clothing stores fell 2.5 percent (vs 2.9 percent in May), the biggest drop since February 2017; and those at hobby, musical instrument, and bookstores declined 3.2 percent (vs -0.9 percent in May), the most since December 2017. Declines were also seen at: electronics & appliance stores (-0.4 percent vs 0.4 percent); food & beverage stores (-0.3 percent vs 0.2 percent); and general merchandise stores (-0.8 percent vs 1.2 percent).

Excluding automobiles, gasoline, building materials and food services, retail sales were unchanged in June after an upwardly revised 0.8 percent increase in May.

Year-on-year, retail trade grew 6.6 percent in June, compared with a 6.5 percent rise in May.

For more information, visit Trading Economics by CLICKING HERE.

Disclaimer: All data and information ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.