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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
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.