U.S. Retail Sales Rise 0.2% in June as Online Spending Jumps 1.9%
Updated
Updated · KSL.com · Jul 16
U.S. Retail Sales Rise 0.2% in June as Online Spending Jumps 1.9%
3 articles · Updated · KSL.com · Jul 16
Summary
June retail sales rose 0.2%, slowing from May’s revised 1% gain as shoppers pulled back amid economic uncertainty and fading tax-refund support.
Online sales climbed 1.9% around Amazon Prime Day, while sales excluding gas stations increased 0.7%, showing lower fuel prices depressed the headline figure.
Consumer prices fell 0.4% from May—the biggest monthly drop in four years—and annual inflation eased to 3.5%, helped by cheaper gas, clothing and used cars.
Gas averaged $3.94 a gallon Thursday versus $4.04 a month earlier, but renewed U.S. attacks on Iran and a new Strait of Hormuz blockade threaten that relief.
Next month’s earnings from Walmart, Target and Macy’s are expected to give a broader read on whether cautious consumers keep trimming discretionary purchases.