Retail Sales Monthly % Change, Seasonally Adjusted
Monthly retail sales were lackluster in June, down 0.5 percent, while April and May data were revised lower. Core sales, which exclude autos and gasoline, increased 0.1 percent, however. Sales at auto dealers and gas stations fell by more than 2 percent as gas prices declined and rental car companies cut back on purchases for their fleets. Sales at sporting goods and hobby stores, furniture stores and building supply stores fell more than 1 percent while sales rose over 1 percent at electronics and appliance stores and department stores. Compared with a year ago, total and core sales are up by 4.8 and 3.9 percent, respectively. The report suggests that the economy continues to expand but very slowly. The headwinds are obvious: slow growth of employment and earnings, weak consumer confidence and continued problems in the housing market. Expect sales to remain sluggish in the second half of the year.
Source: Census Bureau, Grubb & Ellis