by Calculated Risk on 8/15/2018 08:37:00 AM

On a monthly basis, retail sales increased 0.5 percent from June to July (seasonally adjusted), and sales were up 6.4 percent from July 2017.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for July 2018, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $507.5 billion, an increase of 0.5 percent from the previous month, and 6.4 percent above July 2017. Total sales for the May 2018 through July 2018 period were up 6.3 percent from the same period a year ago. The May 2018 to June 2018 percent change was revised from up 0.5 percent to up 0.2 percent.

Click on graph for larger image.

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 up 0.5% in July.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 5.1% on a YoY basis.

The increase in July was above expectations, however sales in May and June were revised down.