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Retail sales accelerate in July 2023

ADVANCE MONTHLY SALES

Modified 2023-08-29T15:46:26+00:00
Goran Soko / CSIMarket.com Contributer




The rate of growth in retail and food services total sales accelerated due to increase in strong sporting goods, hobby, book and music stores sales.
The Commerce Department announced U.S. retail sales including food services surged to $696.4 billion by 0.7 % to $696.4 billion in July 2023 to $696.4 billion on the seasonally adjusted basis. Improving rate in retail sales growth is a good news, as the retail sales account for about half of total consumer spending and about a third of final sales in the U.S. economy.
Higher retail spending, in turn, has spurred companies to boost their inventories in anticipation of rising sales. Sales advanced by 2.2 % for the year, meanwhile sales excluding volatile motor vehicle and parts sales, increased less than overall retail sales, over the last 12 months.


Advance Monthly Sales



Retail Sales

In July 2023, sales increased 0.7% at health and personal care stores, department stores up 0.9%.

Several other areas with sales growth were 0.7% at building materials dealers, clothing and accessories stores went up by 1%.

Meanwhile, sales decreased -1.3% at electronics and appliance stores, internet retailers -100%.


  
  CPI
  Vehicle Sales
  Personal Income
  Employment Situation
  GDP


Fuels & Transportation



Sales of essentials have rebounded from decline in previous period, sales increased by 0.9 % on the seasonally adjusted basis, food services and drinking places sales rose the most, by 1.41 %. From July 2022, sales of essentials deteriorated by -2.5 %.

Excluding the volatile auto sector sales increased sequentially by 1 % and accelerated on the seasonally adjusted basis, sales grew at clothing stores, sporting goods, hobby, book, music stores and electronics and appliance stores. Electronics and appliance stores sales have sunk.

Investors and the Federal Reserve usually view the core sales as a better gauge of retail sales because it excludes car sales, which often fluctuate.
Sales excluding cars increased by 1.1 % from July 2022.


Retail Sales by Category

(In millions $)




ADVANCE MONTHLY SALES
( in millions $)
July 2023

adv.
June 2023

adv.
May 2023

adv.
April 2023

adv.
March 2023

adv.
Retail & food services total
696,354 691,312 688,161 684,213 683,179
Total excl. motor vehicle & parts
562,809 557,383 555,424 553,971 553,736
Retail
605,211 601,433 599,280 596,523 595,614
GAFO
510,471 505,241 502,162 499,489 498,648
Motor vehicle & parts dealers
133,545 133,929 132,737 130,242 129,443
  Auto & other motor veh. dealers
122,102 122,607 121,645 119,287 118,899
Furniture & home furnishings stores
11,039 11,238 11,130 11,165 11,477
Electronics & appliance stores
7,694 7,792 7,782 7,608 7,703
   Appl. TV & camera
- - - - -
   Computer & software stores
- - - - -
Building mat. & garden eq. & supplies dealers
41,594 41,307 41,938 41,579 41,300
  Building mat. & supplies dealers
- 35,362 35,912 35,654 35,566
Food & beverage stores
82,152 81,491 81,814 81,844 81,911
  Grocery stores
73,724 73,147 73,411 73,634 73,743
  Beer, wine & liquor stores
- 5,973 6,062 5,950 5,885
Health & personal care stores
36,226 35,969 35,613 35,525 35,262
  Pharmacies & drug stores
- 29,876 29,557 29,382 29,249
Gasoline stations
52,338 52,142 53,262 54,482 55,088
Clothing & clothing accessories stores
25,964 25,695 25,728 25,640 25,574
   Men's clothing stores
- - - - -
   Women's clothing stores
- 3,262 3,338 3,260 3,251
   Shoe stores
- 3,218 3,209 3,192 3,168
Sporting goods, hobby, book & music
8,682 8,552 8,577 8,615 8,557
General merchandise stores
73,077 72,510 72,417 72,315 72,812
   Department stores ex. LD
10,975 10,881 11,137 11,154 11,529
   Other general merchandise stores
- 61,629 61,280 61,161 61,283
     Warehouse clubs & superstores
- 52,939 52,633 52,492 52,627
     All other gen. merchandise stores
- 8,690 8,647 8,669 8,656
Miscellaneous store retailers
15,499 15,549 15,305 15,575 15,210
Nonstore retailers
- 105,143 102,936 102,049 101,328
   Electronic shopping & mail-order houses
- 105,143 102,936 102,049 101,328
Food services & drinking places
91,143 89,879 88,881 87,690 87,565


ADVANCE MONTHLY SALES
( in % Y / Y)
July 2023
adv.
June 2023
adv.
May 2023
adv.
April 2023
adv.
March 2023
adv.
Retail & food services total 2.21 % 1.28 % 2.12 % 1.41 % 1.72 %
Total excl. motor vehicle & parts 1.09 % 0.33 % 1.55 % 1.87 % 2.12 %
Retail 1.53 % 0.81 % 1.81 % 1.06 % 1.03 %
GAFO 4.28 % 3.77 % 4.71 % 3.98 % 4.27 %
Motor vehicle & parts dealers 7.2 % 5.44 % 4.61 % -0.47 % 0.05 %
   Auto & other motor veh. dealers 6.93 % 5.05 % 4.47 % -1.15 % -0.43 %
Furniture & home furnishings stores -7.52 % -7.12 % -8.84 % -9.15 % -5.1 %
Electronics & appliance stores 1.24 % 2.73 % 1.47 % -2.6 % -0.18 %
   Appl. TV & camera
   Computer & software stores
Building mat. & garden eq. & supplies dealers -2.55 % -1.75 % -0.32 % -2.14 % -3.09 %
   Building mat. & supplies dealers - % -3.77 % -2.57 % -4.83 % -5.54 %
Food & beverage stores 3.88 % 3.41 % 4.83 % 5.99 % 6.17 %
   Grocery stores 3.91 % 3.52 % 4.98 % 6.56 % 6.91 %
   Beer, wine & liquor stores - % 1.05 % 3.31 % 1.33 % -0.17 %
Health & personal care stores 7.91 % 7.42 % 8.92 % 7.6 % 7.66 %
   Pharmacies & drug stores - % 8.22 % 9.45 % 8.18 % 8.2 %
Gasoline stations -22.14 % -24.06 % -20.99 % -14.13 % -13.96 %
Clothing & clothing accessories stores 0.68 % -1.32 % -0.53 % -2.44 % -1.64 %
   Men's clothing stores - % - % - % - % - %
   Women's clothing stores - % -2.63 % -0.03 % -3.64 % -5.25 %
   Shoe stores - % -3.36 % -3.86 % -4.52 % -2.67 %
Sporting goods, hobby, book & music -6 % -7.1 % -5.81 % -4.59 % -4.56 %
General merchandise stores 5.38 % 6.94 % 6.22 % 6.16 % 5.56 %
   Department stores ex. LD -2.76 % -3.25 % -3.37 % -2.47 % 1.18 %
   Other general merchandise stores - % 8.96 % 8.17 % 7.9 % 6.43 %
     Warehouse clubs & superstores - % 10.02 % 9.4 % 8.53 % 6.54 %
     All other gen. merchandise stores - % 2.95 % 1.28 % 4.22 % 5.77 %
Miscellaneous store retailers -2.7 % -3.31 % -1.24 % -1.49 % -0.86 %
Nonstore retailers - % 8.62 % 11.33 % 9.06 % 7.43 %
   Electronic shopping & mail-order houses - % 8.62 % 11.33 % 9.06 % 7.43 %
Food services & drinking places 6.94 % 4.52 % 4.3 % 3.88 % 6.66 %




ADVANCE MONTHLY SALES
( in % M / M)
July 2023
adv.
June 2023
adv.
May 2023
adv.
April 2023
adv.
March 2023
adv.
Retail & food services total 0.73 % 0.46 % 0.58 % 0.15 % -2.11 %
Total excl. motor vehicle & parts 0.97 % 0.35 % 0.26 % 0.04 % -2.38 %
Retail 0.63 % 0.36 % 0.46 % 0.15 % -1.57 %
GAFO 1.04 % 0.61 % 0.54 % 0.17 % -2 %
Motor vehicle & parts dealers -0.29 % 0.9 % 1.92 % 0.62 % -0.92 %
   Auto & other motor veh. dealers -0.41 % 0.79 % 1.98 % 0.33 % -0.89 %
Furniture & home furnishings stores -1.77 % 0.97 % -0.31 % -2.72 % -4.74 %
Electronics & appliance stores -1.26 % 0.13 % 2.29 % -1.23 % 6.78 %
   Appl. TV & camera
   Computer & software stores
Building mat. & garden eq. & supplies dealers 0.69 % -1.5 % 0.86 % 0.68 % -3.02 %
   Building mat. & supplies dealers - % -1.53 % 0.72 % 0.25 %