by Calculated Risk July 16, 2024 8:30 AM
On a monthly basis, retail sales were “nearly flat” from May to June (seasonally adjusted) and increased 2.3% from June 2023.
From the Census Bureau report:
Preliminary U.S. retail and foodservice sales figures for June 2024The figure, adjusted for seasonal fluctuations and differences in holidays and trading days but not price fluctuations, came to $704.3 billion. Almost the same as last monthbut up 2.3 percent from June 2023. … The percentage change from April 2024 to May 2024 was revised from a 0.1 percent increase to a 0.3 percent increase.
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This graph shows retail sales since 1992. It is seasonally adjusted monthly retail sales and food service sales (total and excluding gasoline).
Retail sales excluding gasoline rose 0.2% in June.
The second chart shows the year-over-year change in retail and food service sales (excluding gasoline) since 1993.
Sales in the retail and restaurant industries, excluding gasoline, increased 2.7% from the previous year.
The increase or decrease in sales for June was in line with expectations, while sales for April and May were revised upwards.
