U.S. retail sales unchanged in June from May
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U.S. retail sales remained unchanged in June from May, defying economic forecasts for a pullback. Retail sales were revised upward to a 0.3% increase in May. Sales at gas stations and auto dealerships weighed down the figure, but excluding gas prices and auto sales, retail sales rose 0.8%. Online sales rose 1.9%, clothing and accessories store sales rose 0.6%, and department stores posted a 0.6% increase. Control retail sales, which excludes volatile categories, rose a solid 0.9% in the month. The report does not include many services, but restaurants registered an uptick of 0.3%. Inflation declined 0.1% from May to June. Federal Reserve Chair Jerome Powell said the Fed is becoming more convinced that inflation is headed back to its 2% target. The U.S. economy added 206,000 jobs in June. The retail sales report comes amid upheaval in the retail landscape, with Saks Fifth Avenue acquiring Neiman Marcus Group and Macy's terminating buyout talks with investment firms.

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https://www.investmentexecutive.com/news/research-and-markets/u-s-retail-sales-unchanged-in-june-from-may/