by Calculated Risk on 8/17/2021 08:39:00 AM
On a monthly basis, retail sales were decreased 1.1% from June to July (seasonally adjusted), and sales were up 15.8 percent from July 2020.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for July 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $617.7 billion, a decrease of 1.1
percent from the previous month, but 15.8 percent above July 2020. … The May 2021 to June 2021 percent change was revised from up 0.6 percent to up 0.7 percent.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline were down 1.4% in July.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
Sales in July were below expectations, however sales in May and June were revised up.