Tuesday, July 15, 2014

Retail Sales Rose a Modest 0.2% in June

Retail sales improved modestly in June, growing 0.2% from the month prior. However, June’s report included an upward revision to May’s headline number. Excluding automobile and gasoline sales, retails sales increased 0.4%. Year-over-year growth was 4.3%, down 0.3% from the previous month’s revised value.

Retail gains in June were led by general merchandisers, which saw sales increase by 1.1%. The decline in sales was limited to a few select segments, including motor vehicle and parts. The largest monthly decline in sales occurred for building materials, which dropped 1.0% in June. However, the drop did not fully offset the large gains seen the prior three months.

The outlook for future growth is positive. Year-over-year growth has remained above 4% for four consecutive months, the first time since last summer.

Read the Census report.

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