U.S Retail Sales Increased Again by 0.6% in June – July Report

Retails and foods services sales slightly increased again for the seventh time in eighth months; the index rose during June 2013 by 0.6% compared with May’s sales and also remained above the sales at June 2012. 

The U.S. Department of Commerce (pdf file) published today its monthly report on the developments in the U.S. retail and food sales for June 2013.

This report adjusts for seasonal variances and holidays but doesn’t control for price shifts. In June, the U.S. retail and food sales reached $422.8 billion, which are 0.6% higher than the sales in May and 6% higher than in June 2012. This gain in retail sales might have slightly contributed to the modest gain in stocks at the first day of the week. Moreover, gasoline stations sales rose by 0.7% in June compared to May and 4.3% above the sales in June 2012. This means the U.S demand for retail gas is rising; it also means demand for energy commodities is increasing. This news may pull up crude oil price: If the demand for gasoline will continue to expand, it could signal a rise in demand for oil in the U.S and thus may pressure up the crude oil price. Further, the recent moderate increase in the retail sales might suggest the U.S economy continues to slowly grow.

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