US Retail Sales up 0.7% MoM in July

MG News | August 16, 2023 at 11:02 AM GMT+05:00

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August 16, 2023 (MLN): U.S. retail and food services sales for July 2023 were $696.4 billion, up 0.7% MoM, and 3.2% YoY, the latest data issued by U.S. Census Bureau showed yesterday.

Total sales for the May 2023 through July 2023 period were up 2.3% YoY.

The May 2023 to June 2023 percent change was revised from up 0.2% to up 0.3%.

Retail trade sales were up 0.6% MoM and 2% YoY.

Nonstore retailers were up 10.3% YoY, while food services and drinking places were up 11.9% YoY.

Explanatory Note

Retail sales report in the U.S. provides an aggregated measure of sales of retail goods and services over a period of a month

The advance estimates are based on a subsample of the Census Bureau’s full retail and food services sample.

A stratified random sampling method is used to select approximately 4,800 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of over three million retail and food services firms.

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