July retail sales up but cautious consumer spending expected: NRF


August 18, 2019 | By RetailME Bureau

Retail sales in the US were up 0.9% in July seasonally adjusted from June and up 5.6% unadjusted year-over-year, stated National Retail Federation (NRF). The numbers exclude automobile dealers, gasoline stations and restaurants.

Commenting on the results, NRF Chief Economist Jack Kleinhenz, said, “July’s strong results are consistent with a confident consumer. Households are in good shape with spending and that should continue as long as the labour market remains healthy. But it’s important to remember that today’s data is looking backward at what was happening a month ago. The impact of volatile financial markets and increased trade tensions in recent weeks may put a wind of caution in consumer spending as we move forward in 2019.”

The release of July’s numbers came two days after the Trump administration delayed new tariffs on some consumer goods until December 15, 2019 to avoid any impact on holiday spending, but many products will still be hit by tariffs taking effect September 1, 2019 as scheduled.

As of July, the three-month moving average was up 3.5% over the same period a year ago, compared with 3.7% in June. July’s results build on gains of 0.6% month-over-month and 2.2% year-over-year seen in June.

NRF’s numbers are based on data from the US Census Bureau, which said today that overall July sales – including auto dealers, gas stations and restaurants – were up 0.7% seasonally adjusted from June and up 3.4% unadjusted year-over-year.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



The long weekend might be over but the Etisalat Beach Canteen 2021 

Continue Reading

December 5, 2021 | By RetailME Bureau

UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau




Download Images RetailME Magazine