Retail Sales Surge Continues With Huge Buying Spree
There is little denying a strong second-quarter from the Census Bureau's Advance Monthly Retail Sales report for June.
Advance estimates of U.S. retail and food services sales for June 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $506.8 billion, an increase of 0.5 percent from the previous month, and 6.6 percent above June 2017.
The April 2018 to May 2018 percent change was revised from up 0.8 percent to up 1.3 percent.
- Motor vehicles and parts up 0.9%
- Furniture up 0.6%
- Electronics and Appliances down 0.4%
- Building materials and garden supplies up down 0.4%
Gasoline up 1.0%
- Clothing down 2.5%
- Sporting goods down 3.2%
- Department stores down 1.8%
- Food and Drinking up 1.5%
- Nonstore retailers up 1.3%
From a Year Ago
- Total sales for the April 2018 through June 2018 period were up 5.9 percent from the same period a year ago.
- Retail trade sales were up 0.3 percent from May 2018, and 6.4 percent above last year.
- Gasoline Stations were up 21.6 percent from last year.
- Nonstore Retailers were up 10.2 percent from last year.
This was a strong report. GDP estimates will surge.
Mike "Mish" Shedlock