Retail sales in the US rose 0.2% in June, which is lower than the expected 0.3% increase. This is according to the Commerce Department, which released the data on Thursday. The rise in sales was largely driven by online retailers, which saw a 1.9% increase in sales, likely due to Amazon’s Prime Day sale.
Retail Sales by Category
Sales were up across most categories, with car dealerships also seeing a 1.9% increase. However, sales at gas stations plummeted 5.3%, and health and personal care stores saw a 0.8% decline. Spending at restaurants and bars edged higher by just 0.1% last month, despite an influx of World Cup tourists.
The World Cup and online sales events helped boost spending last month, according to economists. However, lower gas prices weighed on the government’s retail figures, since they are not adjusted for inflation. Excluding sales at gas stations, spending in June was up by a solid 0.7%.
Original reporting: KEYT (Ventura/Santa Barbara) — read the source article.
