Retail sales continue to show modest gains

The theme of flattish sequential retail gains remained intact from May to June, according to data released today by the National Retail Federation (NRF) and the United States Department of Commerce.

Commerce reported that June retail sales at $439.9 billion were up 0.2 percent over May and up 4.3 percent compared to June 2013, and total retail sales from April through June are up 4.5 percent annually. And excluding automobiles, Commerce said total retail and food services in June were up 0.4 percent over May at $351.9 billion and up 3.7 percent compared to June 2013. Commerce added that the April to May 2014 percent change was revised from +0.3 percent to +0.5 percent.

The NRF said that June retail sales, which exclude automobiles, gas stations, and restaurants, were flat on a seasonally-adjusted and sequential basis for the second straight month in May, and saw a 3.0 percent unadjusted annual increase.

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