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.
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| Retail Sales |
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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%.
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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 % |
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