Retail Sales Fall Flat in July as Consumers Get Cautious
U.S. retail sales came in flat for July, versus consensus expectations calling for a 0.2 percent increase in the metric, according to the U.S. Census Bureau. Excluding auto, sales rose 0.1 percent, missing expectations of a 0.4 percent gain.
The following is from the Census Bureau on Wednesday:
The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $439.8 billion, virtually unchanged (±0.5)* from the previous month, and 3.7 percent (±0.9) above July 2013. Total sales for the May through July 2014 period were up 4.2 percent (±0.7) from the same period a year ago. The May to June 2014 percent change was unrevised from +0.2 percent (±0.2).
Retail trade sales were virtually unchanged (±0.5)* from June 2014, and 3.4 percent (±0.7) above last year. Health and personal care stores were up 7.3 percent (±1.9) from July 2013 and auto and other motor vehicle dealers were up 6.4 percent (±3.2) from last year.
Traders will keep an eye on the SPDR S&P Retail ETF (NYSE: XRT), which is lower in early trading Wednesday.
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