December 8, 2022

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US June retail sales +0.6% vs -0.4% expected

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US June 2021 retail sales data

US June 2021 retail sales data
  • Prior was -1.3% m/m (revised to -1.7%)
  • Retail sales ex autos +1.3% vs +0.4% expected
  • Prior ex autos -0.7% (revised to -0.9%)
  • Retail sales control group +1.1% vs +0.4% expected
  • Retail sales ex auto and gas +1.1% vs -0.8% prior
  • Ex autos/gas/building materials/food services +1.1% vs -1.4% prior
  • Full report

Sales are up 18.0% above the June 2020 level.

Some key categories (m/m):

  • Food services and drinking places +2.3%
  • Non store retailers (online) +1.2%
  • Clothing and accessories +2.6%
  • Gasoline stations +2.5%
  • Electronics and appliances +3.3%
  • Furniture -3.6%
  • Motor vehicle and parts dealers -2.0%

The ‘food services and drinking places’ is the cleanest category to evaluate the reopening and how much of the pent up savings people will spend. The 2.3% climb follows a 3.7% rise in May and a 5.1% rise in April.

US retaurant sales m/m

Here’s another way of looking at it. You can see that it’s back on trend. What you would expect though (especially if you’re looking for a reopening boom) is an overshoot for a number of months and a burst of spending.

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