{"id":193570,"date":"2023-07-18T10:15:00","date_gmt":"2023-07-18T14:15:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=193570"},"modified":"2023-07-18T09:56:08","modified_gmt":"2023-07-18T13:56:08","slug":"retail-sales-growth-eases-in-june-but-still-signals-healthy-demand-conditions","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/retail-sales-growth-eases-in-june-but-still-signals-healthy-demand-conditions\/","title":{"rendered":"Retail Sales Growth Eases In June, But Still Signals Healthy Demand Conditions"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\">ZINGER KEY POINTS<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Retail sales rose 0.2% month-on-month in June, falling short of expectations for 0.5% growth.<\/li>\n\n\n\n<li>Excluding autos and gas stations, retail sales rose 0.3% in June, surpassing expectations of a flat reading.<\/li>\n<\/ul>\n\n\n\n<p>Consumer spending remained resilient in June, but advanced at a lower-than-expected pace, suggesting healthy demand&nbsp;<a href=\"https:\/\/www.benzinga.com\/markets\/23\/07\/33254739\/electric-week-ahead-tesla-earnings-among-highlights-along-with-retail-sales-but-soft-china-growth-in\" target=\"_blank\" rel=\"noreferrer noopener\">conditions in the economy.<\/a><\/p>\n\n\n\n<p>Retail sales experienced a 0.2% month-over-month increase in June, missing the 0.5% rise forecasted and following an upwardly revised 0.5% increase in May, according to the preliminary estimates released by U.S. Census Bureau on Tuesday.<\/p>\n\n\n\n<p>The core retail sales gauge, which exclude automobiles, gasoline, building materials and food services, rose 0.3% month-over-month in June, beating expectations of a flat reading but slowing from an upwardly revised 0.5% gain in May.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">June Retail Sales: What You Need To Know<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The seasonally adjusted advance estimates of U.S. retail and food services sales for June 2023 came in at&nbsp;$689.5 billion, up 0.2% on the month&nbsp;and 1.5% year-over-year.<\/li>\n\n\n\n<li>The 0.2% monthly increase in retail sales was lower than the 0.5% gain predicted by economists.The 1.5% yearly increase in retail sales was also somewhat lower than the 1.6% expected.<\/li>\n\n\n\n<li>Retail sales increased for the third month in a row, after climbing 0.4% in April and 0.5% in May. The April 2023 to May 2023 change was revised from 0.3% to 0.5%.<\/li>\n\n\n\n<li>Core retail sales, excluding motor vehicles and parts, saw a 0.2% increase on a monthly basis, slowing from the 0.3% rise in May and missing expectations of a 0.3% increase. On an annual basis, core retail sales showed 0.6% growth.<\/li>\n\n\n\n<li>When excluding gasoline stations as well, core retail sales experienced a 0.3% monthly increase in June, slightly lower than the revised 0.5% recorded in May but surpassing expectations of zero. On a year-over-year basis, core retail sales excluding autos and gas were 3.9% higher.<\/li>\n\n\n\n<li>Among various spending categories, the largest monthly increases were seen in miscellaneous store retailers, with a 2% rise, and nonstore retailers, with a 1.9% increase.<\/li>\n\n\n\n<li>On the other hand, the most significant monthly declines were observed in gasoline stations, which saw a 1.4% monthly drop, and building material, garden equipment and supplies dealers, down 1.2%.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Market Reactions: Dollar Ticks Higher<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The U.S. Dollar index, which is tracked by the&nbsp;Invesco DB USD Index Bullish Fund ETF, ticked 0.2% higher in the minutes after the release.<\/li>\n\n\n\n<li>A further&nbsp;rate hike by the Fed following the July meeting is estimated at 12% probability in September and 22% probability by November.<\/li>\n\n\n\n<li>Futures on the S&amp;P 500 index, which is closely tracked by the&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;ticked 0.1% down.&nbsp;<\/li>\n\n\n\n<li>Treasury yields were flat, with&nbsp;the 10-year note trading at 3.78% yield and the two-year at 4.74% yield.<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted July 18, 2023 &#8211; <a href=\"https:\/\/www.benzinga.com\/economics\/macro-economic-events\/23\/07\/33265711\/retail-sales-growth-eases-in-june-but-still-signals-healthy-demand-conditions\">Retail Sales Growth Eases In June, But Still Signals Healthy Demand Conditions<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer spending remained resilient in June, but advanced at a lower-than-expected pace, suggesting healthy demand conditions in the economy.<\/p>\n","protected":false},"author":1128,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[9362,1546,336],"contributors-categories":[13584],"class_list":{"0":"post-193570","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-economic-outlook","13":"tag-retail-sales","14":"tag-sales-growth","15":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Retail Sales Growth Eases In June, But 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