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NRF: June retail sales gains ‘impressive’

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NRF: June retail sales gains ‘impressive’

WASHINGTON — Retail sales in June were up 0.6% seasonally adjusted from May and up 2.3% unadjusted year-over-year, the National Retail Federation said on Tuesday.

“These are impressive results showing that the consumer remains engaged and that consumer spending gave a boost to the economy in the second quarter,” NRF chief economist Jack Kleinhenz said in a statement. “The numbers are consistent with elevated consumer sentiment, healthy household balance sheets, low inflation and wage and job gains. The year-over-year growth is particularly significant given that it comes on top of strong gains at this time last year. While the prospect of tariff increases has subsided for the moment, trade uncertainties continue to weigh on the long-term outlook.”

As of June, the three-month moving average was up 3.7% over the same period a year ago, compared with 3.3% in May. June’s results build on gains of 0.4% month-over-month and 2.9% year-over-year seen in May.

NRF’s numbers exclude automobile dealers, gasoline stations and restaurants. They are based on data from the U.S. Census Bureau, which said today that overall June sales — including those auto dealers, gas stations and restaurants — were up 0.4% seasonally adjusted from May and up 3.4% unadjusted year-over-year.

Specifics from key retail sectors during June include:

  • Online and other non-store sales were up 11.6% year-over-year and up 1.7 percent month-over-month seasonally adjusted.
  • Health and personal care stores were up 3.4% year-over-year and up 0.5 percent month-over-month seasonally adjusted.
  • General merchandise stores were up 2.3% year-over-year and up 0.2 percent month-over-month seasonally adjusted.
  • Grocery and beverage stores were up 2.1% year-over-year and up 0.5 percent month-over-month seasonally adjusted.
  • Clothing and clothing accessory stores were down 1.6% year-over-year but up 0.5% month-over-month seasonally adjusted.
  • Furniture and home furnishings stores were down 1.7% year-over-year but up 0.5% month-over-month seasonally adjusted.
  • Building materials and garden supply stores were down 4.7% year-over-year but up 0.5% month-over-month seasonally adjusted.
  • Sporting goods stores were down 5.3% year-over-year and unchanged month-over-month seasonally adjusted.
  • Electronics and appliance stores were down 5.8% year-over-year and down 0.3% month-over-month seasonally adjusted.

ECRM_06-01-22


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