Retail Sales Jump 0.5% in July, June Revised Lower

July retail sales come in well above expectations even accounting for the downward revision in June from 0.4% to 0.2%.

The U.S. Census Bureau announced the advance estimates of U.S. retail and food services sales for July 2018.

  • Advance estimates of U.S. retail and food services sales for July 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $507.5 billion, an increase of 0.5 percent from the previous month, and 6.4 percent above July 2017.
  • Total sales for the May 2018 through July 2018 period were up 6.3 percent from the same period a year ago. The May 2018 to June 2018 percent change was revised from up 0.5 percent to up 0.2 percent.
  • Retail trade sales were up 0.4 percent from June 2018, and 6.0 percent above last year.
  • Gasoline Stations were up 22.2 percent from July 2017.
  • Nonstore Retailers were up 8.7 percent from last year.

Retail Sales Categories

Consumers are spending their tax cuts, and then some. The tax cuts are front-loaded.

Mike "Mish" Shedlock

Comments (3)
No. 1-1

Forward indicators are now as bad for the US as they are for the rest of the world. Trump has sanctioned and tariffed the world in to recession, thanks Israel.