United States: Retail sales bounce back in June
Retail sales grew 1.0% in month-on-month seasonally-adjusted terms in June, which contrasted May’s 0.1% decrease and beat market expectations for a 0.8% uptick. Looking at the details of the release, motor vehicle and parts dealers sales bounced back in June, while food and beverages sales grew at a softer rate. Lastly, non-store retailers sales gained steam, while gasoline stations sales lost steam.
On an annual basis, retail sales rose at a quicker rate of 8.4% in June (May: +8.2% yoy).