United States: Retail sales lose momentum in June
Latest reading: Nominal retail sales were up 0.2% in seasonally adjusted month-on-month terms in June, following a 1.0% increase in the prior month.
Relative to the prior month’s data, readings in June softened for food and beverages (-0.2% in seasonally adjusted month-on-month terms vs +0.2% in May), general merchandise stores (+0.1% vs +0.4% in May) and gasoline stations (-5.3% vs +2.6% in May). In contrast, readings improved for motor vehicle and parts dealers (+1.9% vs +1.1% in May) and non-store retailers (+1.9% vs +1.4% in May).
In annual terms, retail sales increased 6.7% in June, following a 7.3% increase in the prior month.