US Retail Sales Rise More than Expected in July

US retail trade rose by 0.5 percent month-over-month in July 2018, following a downwardly revised 0.2 percent advance in June. The sales beat market expectations of a 0.1 percent gain boosted by purchases of motor vehicles and clothing.
US Census Bureau | Joana Ferreira | 8/15/2018 12:52:48 PM
8 of 13 major retail categories showed month-over-month increases.

Sales at motor vehicle & parts dealers advanced 0.2 percent in July (vs 0.1 percent in June) and those at clothing & clothing accessories stores rebounded 1.3 percent (vs -1.6 percent in June). Also, sales at gasoline stations moved up 0.8 percent (vs 0.3 percent in June), and online and mail-order retail trade jumped 0.8 percent (vs 0.7 percent in June) likely boosted by Amazon's "Prime Day" promotion. Sales also rose at: restaurants and bars (1.3 percent vs 1.6 percent); general merchandise stores (0.7 percent vs -0.7 percent); food & beverage stores (0.6 percent vs flat reading); and electronics & appliance stores (0.1 percent vs 0.4 percent).

Meanwhile, receipts at hobby, musical instrument and book stores fell 1.7 percent (vs -2.1 percent in June) and those at furniture & home furniture stores dropped 0.5 percent (vs 0.3 percent in June). Declines were also seen at miscellaneous store retailers (-0.3 percent vs -1.5 percent), and health & personal care stores (-0.4 percent vs 1.1 percent). Spending at building material stores were unchanged last month (vs 0.1 percent in June).

Excluding automobiles, gasoline, building materials and food services, retail sales advanced 0.5 percent in July after a downwardly revised 0.1 percent dip in June.

Year-on-year, retail trade grew 6.4 percent in July, compared with a 6.1 percent rise in June.

US Retail Sales Rise More than Expected in July