by Bill McBride on 7/14/2017 08:38:00 AM
On a monthly basis, retail sales decreased 0.3 percent from May to June (seasonally adjusted), and sales were up 2.8 percent from June 2016.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for June 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $473.5 billion, a decrease of 0.2 percent from the previous month, and 2.8 percent above June 2016. … The April 2017 to May 2017 percent change was revised from down 0.3 percent to down 0.1 percent.
Click on graph for larger image.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline were down 0.1% in June.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Retail and Food service sales, ex-gasoline, increased by3.2% on a YoY basis.
The decrease in June was below expectations, although sales in May were revised up. A disappointing report.