by Calculated Risk August 15, 2024 8:40 AM
On a monthly basis, retail sales increased 1.0% from June to July (seasonally adjusted) and 2.7% from July 2023.
From the Census Bureau Report:
Preliminary U.S. retail and food service sales figures for July 2024, adjusted for seasonal variations and for holidays and different trading days but not for price changes, were $709.7 billion. 1.0% increase from previous monthup 2.7% from July 2023. …The percentage change from May 2024 to June 2024 was revised from roughly flat to a decrease of 0.2%.
Add emphasis
Click on the graph to enlarge the image.
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 increased 1.0% in July.
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 2.9% from the previous year.
The change in sales for July was better than expected, while sales for May and June were revised downward.
