Friday, August 12, 2016

Retail Sales unchanged in July

by Bill McBride on 8/12/2016 08:41:00 AM

On a monthly basis, retail sales were unchanged from June to July (seasonally adjusted), and sales were up 2.3% from July 2015.

From the Census Bureau report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $457.7 billion, virtually unchanged from the previous month, and 2.3 percent above July 2015. ... The May 2016 to June 2016 percent change was revised from up 0.6 percent to up 0.8 percent.
Retail Sales Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 0.2% in July.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Year-over-year change in Retail Sales Retail and Food service sales ex-gasoline increased by 3.4% on a YoY basis.

The increase in July was below expectations for the month, however retail sales for June were revised up.