US Retail Sales Post Another Jump in June, After Surging in May
US retail sales posted another jump for the second month in June
Skerdian Meta•Thursday, July 16, 2020•1 min read
The US retail sales report for June was released a while ago. Sales posted some major declines during the lock-down months, but in May we saw a jump in retail sales, as the country reopened. Today’s report is showing another jump for June, beating expectations of 5%, for both core and headline sales.
June 2020 US Retail Sales Report:
- June advance retail sales +7.5% vs +5.0% expected
- Prior was +17.7% (revised to +18.2%)
- Ex autos and gas +6.7% vs +5.0% expected
- Prior ex autos and gas +12.4% (revised to +12.1)
- Ex autos +7.3% vs +5.0% expected
- Control group +5.6% vs +4.0% expected
- Prior control group +11.0% (revised to +10.1%)
- Sales YoY +1.1% vs -6.08% prior
This is a good looking report, despite the small revision lower in the prior data in the control group. The year-over-year numbers tell you a lot more about the US economy right now than the m/m data. Overall sales are higher y/y and up 2.9% excluding gasoline. But within the numbers there are huge shifts.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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