Retail sales growth in the US returns to positive territory in June
In June 2020 retail sales, non-seasonally adjusted, grew by 6.6% y/y
Retail sales in the US posted the first positive y/y change since February. In June 2020 retail sales, non-seasonally adjusted, grew by 6.6% y/y compared to a 3% drop in May. Core retail sales, which exclude motor vehicles and parts, followed similar pattern, increasing by 5.7% y/y in June compared to 3 decline in May.
Retail sales in the US saw their worst annual performance in April, as the indicator plummeted by 14.7% y/y, suffering the impact of the social distancing measures, imposed to tackle the COVID-19 spread in the country.
Further data and analysis on the US economy could be found on the CEIC US Economy in a Snapshot – Q2 2020 report.