Business news : Advance Census Estimates Show Retail Sales Growth Slowed in June ( USA)
Advance estimates by U.S. Census Bureau show retail sales slowed across most categories in June, including Sporting goods, hobby, book and music stores. It marked the third consecutive month of declining retail sales, took most analysts by surprise and prompted new anxiety over the state of the economy.
Sales at those stores declined 1.6 percent in June from May, but were up 4.4 percent from June 2011 levels, according to advance estimates. The Census Bureau will revise the estimates two more times as more data becomes available in coming months.
After adjusting for seasonal variation and holiday and trading day difference but not for prices, the Census Bureau estimated Sporting goods, hobby, book and music stores sales reached $7.39 billion in June compared to $7.52 billion in May. For the six months ended June 30, those sales were running 7.3 percent ahead of their level for the comparable period last year on an unadjusted basis.
Sales by Clothing and clothing accessories stores were up 0.2 percent from May and 3.5 percent from June, 2011.
By comparison, overall retail sales declined 0.5 percent (±0.5%) from May 2012 but were up 3.5 percent (±0.7%) from June 2011. Sales by non-store retailers, including online and catalog stores, increased 0.5 percent from May and 10.9 percent (±3.1%) from June 2011.