Twelve Months of Consecutive Retail Sales Growth
July 17, 11(IDEX Online News) – June retail sales in the
Warm weather, lower gas costs and strong Father’s Day promotions put consumers in a spending mood in June, according to the National Retail Federation. Retail industry sales (which exclude automobiles, gas stations, and restaurants) in June increased 0.3% seasonally adjusted from May and 5.5% unadjusted year-over-year.
“A solid year of growth in sales provides further evidence that retailers continue to lead the charge in the economic recovery,” said NRF President and CEO Matthew Shay. “While spending continues to surpass expectations, sustained growth in the retail sector depends on a strong labor market.”
Total June retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.1% seasonally adjusted month-to-month and 8.4% unadjusted year-over-year.
Pulling the figures upwards, clothing and clothing accessories stores’ sales increased 0.7% seasonally adjusted over May and a solid 7.6% unadjusted year-over-year.