The U.S. Department of Commerce reported that Advance Estimates of U.S. Retail and Food Services sales for June increased 0.4% (vs. an estimate of +0.8%) from the prior month to a seasonally adjusted $422.8 billion, while sales rose 5.7% compared to the year-ago period. Year-over-year, this was the 44th straight monthly rise and the strongest gain since last March.
Total sales excluding autos were up 4.5% compared to last June and were flat from the prior month, while total sales less autos and gas stations showed a 4.5% year-on-year increase, but fell 0.1% from May.
8 of 13 sectors posted growth over the prior month, led by Motor Vehicle & Parts Dealers (+1.8% MoM / +11.4% YoY), Furniture & Home Furnishings Stores (+2.4% MoM / +4.6% YoY), Clothing & Accessories Stores (0.7% MoM / +4.8% YoY) and Non-Store Retailers (+2.1% MoM / +13.8% YoY).
However, weakness was apparent at Building Material and Garden Equipment & Supplies Dealers (-2.2% MoM / +9.4% YoY), which fell by the most since last May, and Food Services & Drinking Places (-1.2% MoM / +3.1% YoY), which posted the biggest month-over month drop in more than 5 years.
Electronics & Appliance Stores (-0.1% MoM / -0.3% YoY) and Department Stores (-1.0% MoM / -5.1% YoY) continue to be the biggest laggards and are the only 2 sectors showing a year-to-date decline from 2012.