US retail sales maintained their upward trajectory in June as consumers remain engaged with spending boosting the economy in the second quarter, new figures show.
Retail sales were up 0.6% in June seasonally adjusted from May and up 2.3% unadjusted year-over-year, the National Retail Federation (NRF) said today.
The numbers, which exclude automobiles, gasoline stations and restaurants, include an 11.6% rise year-over-year in online and other non-store sales, which were up 1.7% on May seasonally adjusted.
Sales at clothing and clothing accessory stores were down 1.6% year-over-year but up 0.5% month-over-month seasonally adjusted.
Sales at sporting goods stores, meanwhile, slipped 5.3% year-over-year and down 0.3% month-over-month seasonally adjusted.
June’s results build on gains of 0.4% month-over-month and 2.9% year-over-year seen in May.
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By GlobalData“These are impressive results showing that the consumer remains engaged and that consumer spending gave a boost to the economy in the second quarter,” NRF chief economist Jack Kleinhenz said. “The numbers are consistent with elevated consumer sentiment, healthy household balance sheets, low inflation and wage and job gains. The year-over-year growth is particularly significant given that it comes on top of strong gains at this time last year. While the prospect of tariff increases has subsided for the moment, trade uncertainties continue to weigh on the long-term outlook.”
As of June, the three-month moving average was up 3.7% over the same period a year ago, compared with 3.3% in May.
NRF’s numbers are based on data from the US Census Bureau, which said overall June sales – including auto dealers, gas stations and restaurants – were up 0.4% seasonally adjusted from May and up 3.4% unadjusted year-over-year.
