July retail sales (excluding automobiles, gas stations and restaurants) increased 0.3 percent seasonally adjusted from June, but declined in home-based categories, including building materials and furniture stores, according to the National Retail Federation.
July retail sales, released today by the U.S. Census Bureau, showed total retail and food services sales (which include non-general merchandise categories such as automobiles, gasoline stations and restaurants) increased 0.2 percent seasonally adjusted month-to-month and increased 5.4 percent adjusted year-over-year.
It also showed building material and garden equipment and supplies dealers stores’ sales decreased 0.4 percent seasonally-adjusted year-over-year.
“Consumers continue to grind forward in July, marking 13 consecutive months of retail sales gains,” NRF President and CEO Matthew Shay said. “However consumers alone can’t be expected to shoulder the burden of the economy. Fiscal and monetary policy uncertainties combined with stagnant economic and employment conditions continue to breed a volatile market with extreme swings in consumer spending. The economy can’t seem to maintain any amount of momentum. We just can’t seem to pull ourselves up.”