Updated: 16-Jul-24 09:23 ET
![](/Common/Images/General/clear.gif) |
![](/Common/Images/General/clear.gif) |
Updated: 16-Jul-24 09:23 ET |
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![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/rtlyoy.gif)
![](http://www.briefing.com/Common/Images/Content/PageContent/EcData/rtlnt.gif)
Highlights
- Retail sales were flat in June (Briefing.com consensus -0.1%) following an upwardly revised 0.3% increase (from 0.1%) in May, pressured by a decline in auto sales related to the CDK Global cyberattack and lower gas prices. Excluding autos and gasoline, retail sales rose 0.8% month-over-month.
- Excluding autos, retail sales jumped 0.4% month-over-month (Briefing.com consensus 0.2%) after an upwardly revised 0.1% increase (from -0.1%) in May.
Key Factors
- Motor vehicle and parts dealers sales fell 2.0% after increasing 1.0% in May.
- Gasoline station sales slumped 3.0% after falling 2.1% in May.
- Building material and garden equipment and supplies dealers sales jumped 1.4% after declining 0.7% in May.
- Furniture and home furnishing store sales increased 0.6% after increasing 0.7% in May.
- Clothing and clothing accessories stores sales rose 0.6% after increasing 1.2% in May.
- Electronics and appliance store sales jumped 0.4% after increasing 0.3% in May.
- General merchandise store sales increased 0.4% after rising 0.1% in May.
- Nonstore retailers sales surged 1.9% after jumping 1.1% in May.
- Food services and drinking places sales increased 0.3% after increasing 0.4% in May.
Big Picture
- The key takeaway from the report is that it conveyed some rather solid levels of discretionary spending on goods in June that belies any hard landing tracking for the economy.
Category |
JUN |
MAY |
APR |
MAR |
FEB |
Retail Sales |
0.0% |
0.3% |
-0.2% |
0.5% |
0.7% |
Excluding Autos |
0.4% |
0.1% |
-0.1% |
0.6% |
0.3% |
Durable goods |
|
|
|
|
|
Building Materials |
1.4% |
-0.7% |
0.4% |
-0.2% |
2.4% |
Autos/parts |
-2.0% |
1.0% |
-1.0% |
-0.1% |
2.2% |
Furniture |
0.6% |
0.7% |
1.8% |
-2.1% |
-2.2% |
Nondurable goods |
|
|
|
|
|
General Merchandise |
0.4% |
0.1% |
-0.9% |
0.9% |
0.4% |
Food |
0.1% |
-0.2% |
0.7% |
0.3% |
0.2% |
Gasoline stations |
-3.0% |
-2.1% |
1.6% |
0.8% |
1.9% |
Clothing |
0.6% |
1.2% |
2.3% |
-2.4% |
0.0% |
e*retailing/non-store |
1.9% |
1.1% |
-1.3% |
2.5% |
-0.7% |