WORLD US retail sales gain slows in June, +7.5%: government

WORLD

US retail sales gain slows in June, +7.5%: government

AFP

20:50, July 16, 2020

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File photo: Agencies

US retail sales continued to rise in June but at a much slower pace, gaining 7.5 percent compared to May, according to government data released Thursday.

The increase was better than economists were expecting, but far slower than the 18.2 percent surge in May, the Commerce Department reported. The June increase amounted to over $524 billion.

Sales of vehicles and parts gained 8.2 percent, while clothing sales surged 105 percent, and restaurants and bars jumped 20 percent.

Home furnishing and electronics stores saw gains of 32.5 percent, and 37.4 percent, respectively, while online sales actually fell 2.4 percent.

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