June Retail Sales Fall 3.8%
In June, retail sales (which exclude automobiles, gas stations, and restaurants) fell 3.8% compared to one year ago, according to the National Retail Federation.
When non-general merchandise categories such as autos, gasoline stations and restaurants are added in, the picture looked even grimmer with sales dropping 7.8%, according to the U.S. Commerce Department.
Unseasonal weather was to blame too.
“Although several economic indicators are starting to show signs of improvement, it is going to take a few more months—maybe longer—for people to feel comfortable spending again,” Rosalind Wells, chief economist of NRF, in a release. “High unemployment and other uncertainties will continue to impact consumer spending through the remainder of this quarter.”
The bright spots—retailers that saw small increases month-to-month, but still reported year-over-year declines—included sporting goods, hobby, book and music stores, which reported increases of 0.9%. Sales at electronics and appliance stores increased 0.9%, but decreased 10.2% unadjusted year-over-year.
Health and personal care stores sales decreased 0.3% adjusted from last month but increased a solid 3.7% unadjusted year-over-year. Clothing and clothing accessories stores sales were flat adjusted month-to-month and decreased 6.2% unadjusted year-over-year.
