Retail Sales Surge Continues With Huge Buying Spree

Retail sales jump 0.5% in June following an upward revision in May from 0.8% to 1.3%. GDP estimates will follow.

There is little denying a strong second-quarter from the Census Bureau's Advance Monthly Retail Sales report for June.

Advance estimates of U.S. retail and food services sales for June 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $506.8 billion, an increase of 0.5 percent from the previous month, and 6.6 percent above June 2017.

The April 2018 to May 2018 percent change was revised from up 0.8 percent to up 1.3 percent.

Other Numbers

  • Motor vehicles and parts up 0.9%
  • Furniture up 0.6%
  • Electronics and Appliances down 0.4%
  • Building materials and garden supplies up down 0.4%
    Gasoline up 1.0%
  • Clothing down 2.5%
  • Sporting goods down 3.2%
  • Department stores down 1.8%
  • Food and Drinking up 1.5%
  • Nonstore retailers up 1.3%

From a Year Ago

  • Total sales for the April 2018 through June 2018 period were up 5.9 percent from the same period a year ago.
  • Retail trade sales were up 0.3 percent from May 2018, and 6.4 percent above last year.
  • Gasoline Stations were up 21.6 percent from last year.
  • Nonstore Retailers were up 10.2 percent from last year.

This was a strong report. GDP estimates will surge.

Mike "Mish" Shedlock

Comments
pgp
pgp

One percent.... So in a village of 1000 people 10 more than usual decided to take advantage of a cheap car lease or celebrate by upgrading their phone contract. Maybe they bought a new couch on a 48 month interest free zero-payment deal. I suspect the figures mean nothing more than a surge in the supply of personal credit.

FloydVanPeter
FloydVanPeter

Overall price level a few percent higher?

thimk
thimk

front running tariff increases with purchases made on credit cards ?

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