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Sunday, September 20, 2020
HomeNewsEconomyRetail Sales More than Double Forecast in July

Retail Sales More than Double Forecast in July

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

Year-Over-Year Retail Sales Up 3.4%

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 came in at $523.5 billion in July, an increase of 0.7% (±0.5%) and more than double the consensus forecast.

PriorRevisedConsensus ForecastForecast RangeActual
Retail Sales – M/M ∆0.4%0.3%0.3%-0.3% to 0.5%0.7%
Retail Sales less autos – M/M ∆0.4%0.3%0.4%-0.2% to 0.6%1.0%
Less Autos & Gas – M/M ∆0.7%0.6%0.5%0.4% to 0.5%0.9%
Control Group – M/M ∆0.7%0.3%0.3% to 0.3%1.0%

In another indication of strong consumer spending, U.S. retail sales are 3.4% (±0.7%) above July 2018. Total sales for May 2019 to July 2019 were up 3.3% (±0.5%) from the same period a year ago.

The May 2019 to June 2019 percent change was revised from up 0.4% (±0.5%) to up 0.3% (±0.1%).

Retail trade sales were up 0.6% (±0.5%) from June 2019, and 3.4% (±0.7%) a year ago. Nonstore retailers were up 16.0% (±1.4%) and miscellaneous stores were up 6.0% (±4.6%) from last year.

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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