Retail sales improved as expected in June. Online retailers and home improvement stores led the strongest growth.
The pickup is as predicted by the Spending Confidence Index™ (found here) that consumer spending plans would improve led by discretionary goods—especially homegoods and leisure goods.
Also boosting growth at traditional retail stores was relatively healthy month-to-month growth at furniture stores, drug stores, and big-box mass stores, according to a first look at the latest U.S. retail numbers.
- In June, seasonally adjusted sales excluding autos, food service, and fuel improved to 4.6% growth. That’s nearly a percentage point better than the prior month and up from the 4.0% year-to-date pace. These measures exclude gasoline and fuel dealers.
- Online and other nonstore retailers remain the growth leader among retail segments, jumping to 14.2% growth year-to-year.
- Home improvement stores surged 3.9% month-to-month and are up 7.5% year-to-date.
- Clothing stores were the laggard—falling about 1.0% month-to-month and year-to-year—as apparel store retailers likely lost further ground in June to online apparel retailers.
See the table summary for more detail.
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