Skip to main content

Economists encouraged by some parts of the retail sales report

WASHINGTON (AP) — The retail sales numbers for June indicate that consumers are still cautious, despite steady job gains this year.

The Commerce Department says sales rose by just two-tenths of one percent last month, held back by a sharp drop at building and garden supply stores. Sales also fell at restaurants and at auto dealers.

Still, economists are encouraged by some of the details in the report. A measure of retail sales that doesn’t count fluctuating categories like gasoline and autos rose by a solid 0.6 percent. Clothing stores, sporting goods stores and department stores all recorded decent sales gains. And a category that includes online and catalog retailers jumped 0.9 percent in June. It’s increased 8.1 percent in the past 12 months.

Most analysts now believe the economy expanded at about a 3 percent annual pace in the April-June quarter. And that’s a forecast that was little changed by the retail sales report. It’s not as strong a showing as many economists had hoped following a weak first quarter, when the economy shrank by 2.9 percent.

%@AP Links

164-c-16-(David Melendy, AP correspondent)-“of the economy”-AP correspondent David Melendy reports sluggish retail sales last month could mean slower-than-expected economic growth. (15 Jul 2014)

<

163-v-27-(David Melendy, AP correspondent)–Sluggish retail sales growth in June suggests consumers remain cautious. AP correspondent David Melendy reports. (15 Jul 2014)

<

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Emergency guide: What you should do to prepare for emergencies

WASHINGTON — Do you know what you'd do if an emergency hits? What if you're at work, your spouse is stuck in traffic and your children are in school? There's no way to plan for every emergency, but you can make sure you're prepared for different scenarios, including making a plan for your family and building a kit of emergency supplies.
Read Next Story