June Retail Sales Beat Forecasts
Retail sales were up 0.6 percent in June seasonally adjusted from May and up 2.3 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.
“These are impressive results showing that the consumer remains engaged and that consumer spending gave a boost to the economy in the second quarter,” NRF Chief Economic Jack Kleinhenz said. “The numbers are consistent with elevated consumer sentiment, healthy household balance sheets, low inflation and wage and job gains. The year-over-year growth is particularly significant given that it comes on top of strong gains at this time last year. While the prospect of tariff increases has subsided for the moment, trade uncertainties continue to weigh on the long-term outlook.”
As of June, the three-month moving average was up 3.7 percent over the same period a year ago, compared with 3.3 percent in May. June’s results build on gains of 0.4 percent month-over-month and 2.9 percent year-over-year seen in May.
NRF’s numbers are based on data from the U.S. Census Bureau, which said today that overall June sales – including auto dealers, gas stations and restaurants – were up 0.4 percent seasonally adjusted from May and up 3.4 percent unadjusted year-over-year.
Specifics from key retail sectors during June include:
- Online and other non-store sales were up 11.6 percent year-over-year and up 1.7 percent month-over-month seasonally adjusted.
- Health and personal care stores were up 3.4 percent year-over-year and up 0.5 percent month-over-month seasonally adjusted.
- General merchandise stores were up 2.3 percent year-over-year and up 0.2 percent month-over-month seasonally adjusted.
- Grocery and beverage stores were up 2.1 percent year-over-year and up 0.5 percent month-over-month seasonally adjusted.
- Clothing and clothing accessory stores were down 1.6 percent year-over-year but up 0.5 percent month-over-month seasonally adjusted.
- Furniture and home furnishings stores were down 1.7 percent year-over-year but up 0.5 percent month-over-month seasonally adjusted.
- Building materials and garden supply stores were down 4.7 percent year-over-year but up 0.5 percent month-over-month seasonally adjusted.
- Sporting goods stores were down 5.3 percent year-over-year and unchanged month-over-month seasonally adjusted.
- Electronics and appliance stores were down 5.8 percent year-over-year and down 0.3 percent month-over-month seasonally adjusted.
The National Retail Federation, the world’s largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation’s largest private-sector employer, contributing $2.6 trillion to annual GDP and supporting one in four U.S. jobs — 42 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. NRF.com