Retail sales rise again
Sales at building material and garden equipment and supplies dealers increased 6.2% year-over-year in June, placing NAICS 444 in the upper half of retail categories for the month of June.
Advance U.S. Census Bureau 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% above June 2017. Leading the charge were gasoline stations, up 21.6% year-over-year; and nonstore retailers, up 10.2%.
Of 13 classifications, sales of NAICS 444 retailers were in the top half in terms of year-over-year growth.
“This is a healthy retail sales report and consistent with underlying economic momentum that has fueled a steady run of retail sales increases,” NRF Chief Economist Jack Kleinhenz said. “The big question is whether households can continue this spending pace, which is helping drive the current economic cycle. We think they can, but the big risk to the outlook is the trade war, which could raise prices while reducing consumer confidence and household buying power.”
Meanwhile, the Monthly Retail Trade Report, shows gains for both NAICS 444 (building material and garden equipment and supplies dealers) and NAICS 44413 (hardware stores) for the month of May -- the latest period for which stats of both classifications are available.
On an unadjusted basis NAICS 444 sales rose to $40.7 billion in May, up from $38.5 billion in the year-ago period, and up from $34.4 billion in April.
Also on an unadjusted basis, NAICS 44413 sales rose to $2.83 billion in May, up from $2.45 billion a year ago, and up from $2.46 billion in April.
Advance U.S. Census Bureau 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% above June 2017. Leading the charge were gasoline stations, up 21.6% year-over-year; and nonstore retailers, up 10.2%.
Of 13 classifications, sales of NAICS 444 retailers were in the top half in terms of year-over-year growth.
“This is a healthy retail sales report and consistent with underlying economic momentum that has fueled a steady run of retail sales increases,” NRF Chief Economist Jack Kleinhenz said. “The big question is whether households can continue this spending pace, which is helping drive the current economic cycle. We think they can, but the big risk to the outlook is the trade war, which could raise prices while reducing consumer confidence and household buying power.”
Meanwhile, the Monthly Retail Trade Report, shows gains for both NAICS 444 (building material and garden equipment and supplies dealers) and NAICS 44413 (hardware stores) for the month of May -- the latest period for which stats of both classifications are available.
On an unadjusted basis NAICS 444 sales rose to $40.7 billion in May, up from $38.5 billion in the year-ago period, and up from $34.4 billion in April.
Also on an unadjusted basis, NAICS 44413 sales rose to $2.83 billion in May, up from $2.45 billion a year ago, and up from $2.46 billion in April.