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U.S. retail sales rise more than forecast in June
16.07.2020, 12:51

U.S. retail sales rise more than forecast in June

The Commerce Department announced on Thursday the sales at U.S. retailers jumped 7.5 percent m-o-m in June, following a revised 18.2 percent m-o-m surge in May (originally a 17.7 percent m-o-m climb).

Economists had expected total sales would jump 5.0 percent m-o-m in June.

According to the report, sales at clothing stores, electronics and appliances, furniture and sporting goods, music and books posted the biggest gains in June, while sales at food and beverage stores fell.

Excluding auto, retail sales rose 7.3 percent m-o-m in June after a revised 12.1 percent m-o-m climb in the previous month (originally a 12.4 percent m-o-m surge), better than economists’ forecast of a 5.0 percent m-o-m gain.

In y-o-y terms, the U.S. retail sales increased 1.1 percent in June after a revised 5.6 decrease in the previous month (originally a 6.1 percent drop). This was the first increase since February.

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