IND - Retail Sales June 2024: Case For A Soft Landing Is Strengthened
2024-07-16 10:50:00 ET
Summary
- Retail sales in June 2024 grew by -0.02%, exceeding the median forecast of -0.30%.
- US GDP growth estimates for 2nd quarter likely to be revised substantially higher.
- Below-average, but positive real retail sales growth supports the prospects for a soft landing.
The Advance Report on Monthly Sales for Retail & Food Services was published on July 16, 2024, at 8:30 AM. The report contains information about changes in the prices (inflation/deflation) of a wide array of goods and services purchased by consumers in the U.S. during the month of June 2024.
According to the Census Bureau, total nominal retail sales grew by -0.02% on a Month-on-Month (MoM) basis – +0.28% more than the median forecasted growth of -0.30%....
Retail Sales June 2024: Case For A Soft Landing Is Strengthened