Sales and Pre-Tariff Purchases Result in High July Retail Spending

Consumers showed their willingness to take advantage of summer sales promotions, as well as continue to make purchases ahead of tariffs, according to the CNBC/NRF Retail Monitor, released on August 11,  by the National Retail Federation

“Month-over-month gains were sizeable against a weaker-than-normal June, said. NRF President and CEO Matthew Shay, in a statement. “We may be seeing growing inflationary impacts from tariffs since recent data shows price increases in commodity goods, particularly non-durables. Even with weaker job growth than many expected, consumers still have the ability to spend on household priorities as wages are growing above the rate of inflation.”

Total retail sales, excluding automobiles and gasoline, were up 1.45% seasonally adjusted month over month and up 5.89% unadjusted year over year in July.

That compares with a decrease of 0.33% and an increase of 3.19% year over year in June.

The Retail Monitor calculation of core retail sales (excluding restaurants, in addition to automobile dealers and gasoline stations) was up 1.55% month over month in July and up 5.93% year over year. That compared with a decrease of 0.32% month over month and an increase of 3.36% year over year in June.

Specific Sector Sales

Sales broken down by sales include:

• Digital products (such as electronic books and games) were up 1.35% month over month, seasonally adjusted and up 25.01% year over year unadjusted.
• Sporting goods, hobby, music and book stores were up 2.36% month over month, seasonally adjusted and up 9.99% year over year unadjusted.
• General merchandise stores were up 2.04% month over month, seasonally adjusted and up 6.94% year over year unadjusted.
• Clothing and accessories stores were up 1.75% month over month, seasonally adjusted and up 6.73% year over year unadjusted.
• Grocery and beverage stores were up 1.43% month over mont,h seasonally adjusted and up 5.42% year over year unadjusted.
• Health and personal care stores were up 1.69% month over month, seasonally adjusted and up 4.44% year over year unadjusted.
• Electronics and appliance stores were down 0.51% month over mont,h seasonally adjusted but up 2.11% year over year unadjusted.
• Furniture and home furnishings stores were up 0.98% month over month, seasonally adjusted and up 1.53% year over year unadjusted.
• Building and garden supply stores were up 1.32% month over month, seasonally adjusted but down 4.11% year over year unadjusted.