1. Market Data
July 15, 2014

US retails up in June 2014: Commerce Department

Retail sales in US grow modestly in the month of June, as compared to the same period last year, according to a report released by the Commerce Department.

Retail sales in US grow modestly in the month of June, as compared to the same period last year, according to a report released by the Commerce Department.

Retail sales edged up by 0.2% in June, the smallest gain since January, while in May and April retail sales rose by an upwardly revised 0.5% and 0.6%, respectively.

The Commerce Department noted that weaker than expected sales growth in June was partly due to a drop in auto sales, which fell 0.3% after climbing 0.8% in the previous month.

Retail sales, excluding the drop in auto sales, grew by 0.4% in June, matching the revised increase seen in the previous month.

During the month, sales by building materials and supplies dealers pulled back by 1% in June after rising by 0.6% in May.

In contrast, sales by general merchandise stores surged by 1.1% in June after edging down by 0.1% in the previous month.

Sales clothing and accessories stores and non-store retailers also rose notably. Health and personal care stores also witnessed rise in sales.

On the other hand, core retail sales, which exclude autos, gasoline, and building materials, rose by a solid 0.6% in June.

Total retail sales in the month of June were up by 4.3%, compared to the same month a year ago.