US retail sales gain slows in June, +7.5pc: government
- The pace of sales in the latest three months of the COVID-19 crisis declined 8.1 percent below the same period of 2019.
WASHINGTON: US retail sales continued to rise in June amid the recovery from the coronavirus shutdowns, but at a much slower pace, gaining 7.5 percent compared to May, according to government data released Thursday.
The increase was better than economists were expecting, but far slower than the 18.2 percent surge in May, the Commerce Department reported. The June increase amounted to over $524 billion.
The pace of sales in the latest three months of the COVID-19 crisis declined 8.1 percent below the same period of 2019, the report said.
And the data reflect the period before authorities in some states reimposed restrictions amid a renewed surge in case counts in Florida, Texas, Arizona and California.
Sales of vehicles and parts gained 8.2 percent in June, while clothing sales surged 105 percent, and restaurants and bars jumped 20 percent, according to the data.
Home furnishing and electronics stores saw gains of 32.5 percent, and 37.4 percent, respectively.
However, online sales actually fell 2.4 percent in the month, but are up 23.5 percent compared to June 2019. With people spending more time at home, garden supply sales are 17.3 percent higher than a year ago.
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