Retail Sales Surpass Estimates to Jump by 0.6% in June

Source: Census Bureau

US retail and food services sales rose by 0.6% in June to reach $621.3 billion, higher than expected 0.4% increase as spending shifted to the services sector.

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• The retail sales were 18.0% higher than a similar month of last year.
• Retail sales for April through June this year were 31.5% higher than a similar period last year
• Retail trade sales gained by 0.3% from May, and were 15.6% higher than last year
• Clothing and clothing accessories stores recorded a 47.1% surge in sales compared to last year, while food services and drinking places jumped by 40.2% over the same period.