Retail shock: Sale slide for first time in four months
Source: MarketWatch
By Jeffry Bartash
Published: July 14, 2015 12:02 p.m. ET
WASHINGTON (MarketWatch) — Americans purchased fewer goods and services at retail stores in June, showing little appetite to boost spending despite a gradually improving U.S. economy.
Retail sales fell a seasonally adjusted 0.3% in June to mark the first decline in fourth months, the government said Tuesday. Sales for May and April were also a bit smaller than initially estimated.
Economists polled by MarketWatch had expected a 0.2% increase in retail sales, which account for a big chunk of consumer spending, the lifeblood of the U.S. economy.
The disappointing June sales report as well as the downward revisions in the prior two months suggest U.S. growth in the second quarter might be somewhat softer than Wall Street expects. The MarketWatch forecast had seen gross domestic product in the second quarter on track for a 2.9% gain before the retail report.
Read more: http://www.marketwatch.com/story/retail-sales-shock-wall-street-slide-for-first-time-in-four-months-2015-07-14
Monthly & Annual Retail Trade
ADVANCE MONTHLY SALES FOR RETAIL AND FOOD SERVICES JUNE 2015
TUESDAY, JULY 14, 2015, AT 8:30 A.M. EDT
Rebecca DeNale / Paul Bucchioni CB15-115
Economic Indicators Division
(301) 763-2713
ADVANCE MONTHLY SALES FOR RETAIL AND FOOD SERVICES
JUNE 2015
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for June, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $442.0 billion, a decrease of 0.3 percent (±0.5%)* from the previous month, but up 1.4 percent (±0.9%) above June 2014. Total sales for the April 2015 through June 2015 period were up 1.7 percent (±0.7%) from the same period a year ago. The April 2015 to May 2015 percent change was revised from +1.2 percent (±0.5%) to +1.0 percent (±0.3%).
Retail trade sales were down 0.3 percent (±0.5%)* from May 2015, but up 0.6 percent (±0.7%)* above last year. Food services and drinking places were up 7.7 percent (±3.3%) from June 2014 and sporting goods, hobby, books and music were up 6.6 percent (±1.9%) from last year. Gasoline stations were down 17.1% (±1.4%) from the previous year.
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