Retail Sales Gain in June

WASHINGTON-U.S. retail sales posted a gain of 0.2 percent in June over May, and 4.3 percent over June of last year, totaling $439.9 billion, according to the U.S. Census Bureau’s monthly report issued this morning.

The increases “reinforce the renewed strength of consumer confidence and marked increases in retail employment over the last few months,” said Jack Kleinhenz, chief economist of the National Retail Federation, in a note analyzing the results. Kleinhenz also observed that the Census Bureau made upward revisions to the April and May retail results, providing “positive signs of momentum for second-quarter growth after a dismal first quarter,” he said.

In the retail channels that sell home products, furniture and home furnishings stores posted a 0.1 percent drop in June sales from May along with a gain of 2.6 percent over June of 2013. Kleinhenz said the month-to-month decline reflects “the fits and starts of the housing market.”

Sales at general merchandise stores were up 1.1 percent over May and 3.4 percent over last year’s June. Department stores (excluding leased departments) recorded a 0.2 percent increase over May and a 0.1 percent decline from June of last year.
Posted in News, Retail and tagged National Retail Federation, U.S. Census Bureau, U.S. retail sales on July 15, 2014.