June Retail Sales Mixed, According to NRF
According to the National Retail Federation (www.nrf.com),
June retail industry sales (excluding automobiles, gas stations and
restaurants) decreased 0.5 percent seasonally adjusted over May and
increased 3.3 percent unadjusted year-over-year.
June retail sales released by the U.S. Commerce Department show total retail sales (including autos, gas stations and restaurants) decreased 0.5 percent seasonally adjusted over May and increased 4.9 percent unadjusted year-over-year.
"Today's data shows consumers continue to take a cautious approach
toward shopping," Matt Shay, NRF president and CEO, says. "However,
growth in key areas such as electronics, apparel and department stores
is an encouraging sign as we enter the back-to-school shopping season."
Jack Kleinhenz, NRF chief economist, notes that "moderate growth
these last few months proves that consumer uncertainty remains. A slow-growing
economy and high unemployment rates will continue to hinder consumers'
decisions to spend on discretionary items."
Clothing and clothing accessory stores sales increased 0.6 seasonally
adjusted and a solid 6.1 percent unadjusted over last June. The increase
in department store sales (1.1 percent seasonally adjusted and 0.5 percent
unadjusted) bodes well as retailers head into the back-to-school season.
