Retail

US' retail sales surge in July 2023: Census Bureau

17 Aug '23

1 min read

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Insights

US retail and food services sales reached $696.4 billion in July 2023, up 0.7 per cent from June and 3.2 per cent YoY, as per the US Census Bureau.
May to July sales rose 2.3 per cent YoY, and May to June was revised to 0.3 per cent.
Retail trade grew 0.6 per cent from June, and non-store retailers saw a significant 10.3 per cent annual increase.

Advance estimates of US’ retail and food services sales for July 2023, adjusted for seasonal variation, holiday and trading-day differences, but not price changes, stood at $696.4 billion in July 2023, according to the US Census Bureau. This represents an increase of 0.7 per cent from the previous month and a 3.2 per cent growth compared to July 2022.

The total sales for the period spanning May 2023 to July 2023 were also up, showing a 2.3 per cent increase from the same period a year ago. Additionally, the May 2023 to June 2023 per cent change has been revised upwards, from an initial estimate of 0.2 per cent to 0.3 per cent.

Within the retail sector, trade sales were up by 0.6 per cent from June 2023, and 2 per cent higher than the previous year. A standout performance was noted among non-store retailers, which experienced a significant 10.3 per cent increase from the previous year.

Fibre2Fashion News Desk (DP)

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