Updated
Updated · yardeniquicktakes.com · Jul 17
US Retail Sales Rise 0.2% in June as Nonstore Sales Jump 1.9%
Updated
Updated · yardeniquicktakes.com · Jul 17

US Retail Sales Rise 0.2% in June as Nonstore Sales Jump 1.9%

3 articles · Updated · yardeniquicktakes.com · Jul 17

Summary

  • June retail and food-services sales rose 0.2% after a 1.0% May gain, while control-group sales—a key GDP input—advanced 0.5%.
  • A 5.3% drop in gasoline-station sales, driven by roughly a 50-cent fall in pump prices, masked broader strength; excluding gasoline but including food services, sales increased 0.7%.
  • Nonstore sales jumped 1.9%, the biggest monthly gain in a year, likely helped by Amazon Prime Day and broad-based gains across categories.
  • Second-quarter control-group sales climbed at a 9.2% annualized rate, underscoring consumer spending resilience supported by a balanced labor market and wealthy retirees.

Insights

Is strong consumer spending masking a financial crisis for nearly half of American households?
If AI is making inflation data unreliable, how can the Federal Reserve accurately steer the economy?
As shoppers increasingly wait for big sales, are traditional retail seasons becoming obsolete?