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