The Commerce
Department announced on Friday the sales at U.S. retailers rose 1.2 percent
m-o-m in July, following a revised 8.4 percent m-o-m gain in June (originally a
7.5 percent m-o-m surge).
Economists had
expected total sales would jump 1.9 percent m-o-m in July.
According to
the report, sales at electronics and appliance stores surged in July, while
those at motor vehicle and parts dealers declined.
Excluding auto,
retail sales increased 1.9 percent m-o-m in July after a revised 8.3 percent
m-o-m climb in the previous month (originally a 7.3 percent m-o-m surge),
better than economists’ forecast of a 1.3 percent m-o-m increase.
In y-o-y terms,
the U.S. retail sales jumped 2.7 percent in July after a revised 2.1 advance in
the previous month (originally a 1.1 percent raise). This was the biggest
increase since February.