U.S. Retail Sales Increase As Recovery Continues

Retail sales in the U.S. saw solid growth during June, increasing in most categories on a monthly basis and across the board on a yearly basis as the recovery from the coronavirus pandemic continued, says the National Retail Federation. Overall retail sales in June were up 0.6 per cent seasonally adjusted from May and up 18 per cent year-over-year. That compares with a decrease of 1.7 per cent month-over-month and an increase of 27.6 per cent year-over-year in May. Year-over-year increases were unusually high this spring because most stores were closed by the pandemic during those months last year, but some stores had started to reopen by last June. Despite occasional month-over-month declines, sales have grown year-over-year every month since June 2020. NRF’s calculation of retail sales – which excludes automobile dealers, gasoline stations, and restaurants to focus on core retail – showed June was up 0.8 per cent seasonally adjusted from May and up 12.1 per cent unadjusted year-over-year. That compared with a month-over-month decline of 1.9 per cent and a year-over-year increase of 16.5 per cent in May. NRF’s numbers were up 19.3 per cent unadjusted year-over-year on a three-month moving average. Sales at building materials and garden supply stores in June were down 1.6 per cent month-over-month seasonally adjusted, but up seven per cent unadjusted year-over-year.