0.2% Retail Sales Growth Better Than It Looks

Retail and food services sales edged up a seasonally adjusted 0.2%, to $440 billion for June, according to a Commerce Department report (link opens as PDF) released Tuesday. 

May's retail growth was revised up 0.2 percentage points to 0.5% in Tuesday's report, providing a partial explanation for June's sales not living up to expectations. Analysts had predicted a strong 0.6% boost for this latest report.

Top-line numbers look much better when accounting for more volatile automobile and gasoline sales. Auto sales fell 0.3% for June, putting retail sales, less motor vehicles, at 0.4% growth compared to analysts' 0.6% expectations. When excluding gasoline's 0.3% month-over-month gain, as well, retail sales growth still clocked in at 0.4%, but expectations came in 0.1 percentage points higher at 0.5%.

Source: Census.gov 

Outside of these two sectors, general merchandise stores led sales growth with a 1.1% increase, while hardware and garden stores lagged with a 1% drop.

Over the last year, retail sales have expanded 4.3%, with non-store retailers taking growth gold at 8.1%. The combined category of sporting goods, hobby, book, and music stores recorded the only year-over-year decline, with sales dipping 2% since June 2013. 

Leaked: Apple's next smart device (warning, it may shock you)
Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. And there's one small company making Apple's gadget possible. And its stock price has nearly unlimited room to run for early in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 3030010, ~/Articles/ArticleHandler.aspx, 10/25/2014 3:47:06 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement