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).