US "strong" retail sales are expected to grow in 2Q "UP"

[뉴욕=뉴스핌] United States retail sales improved last month, boosting economic growth forecasts for the second quarter

A clothing store in New York, United States [사진=로이터 뉴스핌]

The US Department of Commerce June retail sales increased 0.5% from the previous month, which corresponds to the trend of experts in the financial markets. Compared with a year ago, retail sales rose 6.6%.

What attracted the attention of the financial market is the upward revision of retail sales growth in May. The growth rate of retail spending for May was revised to 1.3% from 0.8%.

Leading retail sales excluding autos, gasoline, building materials and food services increased over the previous month, and the May growth rate was up 0.5% at 0.8%. Basic retail sales have a significant impact on GDP.

Growth expectations in the US in the second quarter also increased as the retail sales index was revised upward in May and expectations were in line with expectations in June. Consumer spending accounts for more than two-thirds of the US economy.

In addition to retail sales, the April-May trade deficit is expected to have a positive impact on GDP in the second quarter.

Auto sales rose 0.9% in June and petrol station sales increased 1.0% due to volatile oil prices. Sales of building materials increased 0.8%.

In contrast, clothing sales declined 2.5%, the largest decline since February last year, while online sales rose 1.3%, the largest increase since last November.

Restaurant and bar sales increased 1.5%, while hobby, musical instrument and book sales declined 3.2%, the largest decline since last December.

[email protected]