Tuesday, August 15, 2017

Retail Sales increased 0.6% in July

by Bill McBride on 8/15/2017 08:40:00 AM

On a monthly basis, retail sales increased 0.6 percent from June to July (seasonally adjusted), and sales were up 4.2 percent from July 2016.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for July 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $478.9 billion, an increase of 0.6 percent from the previous month, and 4.2 percent above July 2016. ... The May 2017 to June 2017 percent change was revised from down 0.2 percent to up 0.3 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 0.7% 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 4.3% on a YoY basis.

The increase in July was above expectations, and sales in May and June were revised up.  A solid report.

Note: Amazon Prime day boosted retail sales in July.