Keeping you up to date on the latest data releases.
- Retail Sales
Total retail sales increased at a nonannualized rate of 0.2 percent in July. Year-over-year retail sales are up 5.4 percent. Auto sales decreased 1.1 percent in July. Over the past 12 months, retail sales excluding autos have increased 0.5 percent. Contributing to the monthly gain in total sales were improvements for sporting goods and hobbies (up 1.0 percent), clothing and accessories (up 0.9 percent), and gasoline stations (up 0.9 percent). Sectors with the largest declines in July were furniture and home furnishing stores (down 1.4 percent), motor vehicle and parts (down 1.0 percent), and building materials (down 0.4 percent). A less-volatile indicator of sales growth, “core” retail sales (which excludes sales of autos, building supplies, and gas stations) increased 0.5 percent in July following an increase of 0.3 percent in June. On a year-over-year basis, “core” retail sales are up 3.3 percent.