Market Updates
Retail Sales Advanced In June 0.2%
Brian Turner
18 Jul, 2023
New York City
U.S. retail sales rose 0.2% in June following an upwardly revised 0.5% increase in May, the U.S. Census Bureau reported Tuesday.
Retail sales data are not adjusted for inflation and consumer spending continues to remain resilient in the face of inflation falling to a two-year low.
Core retail sales, which excludes automobiles, gasoline, food services and building materials rose 0.6%.
Furniture sales rose 1.4%, electronic appliance sales increased 1.1% and sales at non-store retailers and miscellaneous stores jumped 1.9% and 2.0% respectively.
Apparel store sales increased 0.6% and motor vehicle parts sales inched higher 0.3%.
However, gasoline station sales declined 1..1%, building materials and garden equipment sales fell 1.2%, food and beverage store sales decreased 0.7% and sports, music and book store sales eased 1.0%.
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