Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
The advance estimates of U.S. retail sales came in at $507.5 billion in July, an increase of 0.5% (±0.4%) and far more than the 0.1% forecast.
That’s also 6.4% (±0.5%) higher from July 2017.
Total sales for the May 2018 through July 2018 period rose 6.3% (±0.5%) from the same period a year ago. From May 2018 to June 2018, the percentage change was revised from a gain of 0.5% (±0.4%) to a gain of 0.2% (±0.2%).
Retail trade sales were up 0.4% (±0.5%)* from June 2018, and 6.0% (±0.5%) above last year. Gasoline Stations saw a giant 22.2% (±1.6%) gain from July 2017, while Nonstore Retailers were up 8.7% (±1.4%) from last year.
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