Friday, August 14, 2020

Retail Sales increased 1.2% in July

by Calculated Risk on 8/14/2020 08:40:00 AM

On a monthly basis, retail sales increased 1.2 percent from June to July (seasonally adjusted), and sales were up 2.7 percent from July 2019.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for July 2020, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $536.0 billion, an increase of 1.2 percent from the previous month, and 2.7 percent above July 2019. Total sales for the May 2020 through July 2020 period were down 0.2 percent from the same period a year ago.
emphasis added
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 0.9% 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 4.2% on a YoY basis.

The increase in July was below expectations, however sales in May and June were revised up.