US Retail Sales Post Another Jump in June, After Surging in May

US retail sales posted another jump for the second month in June

Written by: Skerdian Meta • Thursday, July 16, 2020 • 1 min read

• Last updated: Thursday, July 16, 2020

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.