U.S. July retail sales fall for first time in six months, down 0.6%
Overall retail sales decline
U.S. retail sales in July, seasonally adjusted and preliminary, totaled $763.62 billion, or about 121 trillion yen, the Commerce Department said on the 14th. They fell 0.6% from the previous month, turning negative for the first time in six months. That also ran counter to market expectations for a 0.1% increase.
Mixed results by sector
By industry, auto sales fell 1.8%. Nonstore retailers such as online shopping also declined 2.2%. On the other hand, clothing stores rose 1.9%, while pharmacy and healthcare-related sales increased 0.7%. Sporting goods and hobby-related sales were unchanged.
Gasoline sales also decline
Sales at gas stations fell 0.9%, marking a second straight monthly decline.
Enjoyed this article? Share it with your network!