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Sunday, September 20, 2020
HomeNewsEconomyU.S. Retail Sales Gain Stronger than Expected in June

U.S. Retail Sales Gain Stronger than Expected in June

Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)

The advance estimate for U.S. retail sales in June came in at $519.9 billion, an increase of 0.4% (±0.5%) from the month prior and stronger than expected. Retail sales are now 3.4% (±0.7%) higher than June 2018 and have gained overall for the fourth straight month.

IndicatorPriorPrior RevisedConsensus ForecastForecast RangeResult
Retail Sales – M/M ∆0.5%0.4%0.1%-0.2% to 0.4%0.4%
Retail Sales less autos – M/M ∆0.5%0.4%0.2%-0.2% to 0.4%0.4%
Less Autos & Gas – M/M ∆0.5%0.4%0.0% to 0.5%0.7%
Control Group – M/M ∆0.5%0.6%0.4%0.2% to 0.4%0.7%

Total retail sales for the period from April 2019 through June 2019 were also up 3.4% (±0.5%) from the same period a year ago. The April 2019 to May 2019 percent change was revised slightly lower from up 0.5% (±0.5%) to up 0.4% (±0.2%).

Retail trade sales were up 0.4% (±0.5%) from May 2019, and 3.3% (±0.5%) above last year. Nonstore retailers gained strongly for a second straight month, surging 13.4% (±1.4%) from June 2018.

Health and personal care stores gained 5.5% (±1.9%) from last year.

Indicating underlaying strength and strong discretionary spending is the continued solid increase for restaurants, up 0.9% after gaining 1.0%, 0.7%, and 0.8%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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