Tuesday, August 13, 2013

Retail Sales Increased 0.2% in July

Retail sales grew 0.2% in July. July’s report includes a 0.2% upward revision to June’s number. Falling auto sales were a drag on retail sales in July, which were primarily the result of auto dealers. Core sales (excluding auto and gas) rose 0.4%, the highest amount in 3 months. Year-over-year growth increased 5.4%, slightly lower than June’s revised 5.9% growth but well above all other year-over-year growth in 2013.

Sporting goods and hobbies saw the largest gains in July, rising 1.0% over the previous month, the highest month-over-month gain since January.

Sales fell the most sharply for furniture & home furnishings, dropping 1.4% from the previous month. Motor vehicles and parts saw a 1.0% decline.

Read the Census report.

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