• U.S. retail sales increase more than expected in June

Market news

16 July 2019

U.S. retail sales increase more than expected in June

The Commerce Department announced on Tuesday the sales at U.S. retailers rose 0.4 percent m-o-m in June, following a revised 0.4 percent m-o-m advance in May (originally a gain of 0.5 percent m-o-m), supported by higher purchases of motor vehicles and a variety of other goods.

Economists had expected total sales would increase 0.1 percent m-o-m in June.

Excluding auto, retail sales also increased 0.4 percent m-o-m in June after a revised 0.4 percent m-o-m advance in the previous month (originally an advance of 0.5 percent m-o-m), exceeding economists’ forecast for a 0.1 percent m-o-m uptick.

Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, advanced 0.7 percent m-o-m in June after an upwardly revised 0.6 percent m-o-m rise in May (originally an increase of 0.4 percent m-o-m).

In y-o-y terms, the U.S. retail sales surged 3.4 percent in June, accelerating from a revised +2.9 percent in the previous month (originally +3.2 percent).

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