Retail sales in the US recorded solid growth in June, indicating the sector's continued recovery from the coronavirus pandemic, the National Retail Federation revealed.
Data from the US Census Bureau showed that overall retail sales in June were up 0.6 per cent from May and 18 per cent from year-ago figures. By comparison, the month of May saw a decline of 1.7 per cent month on month and an increase of 27.6 per cent from the same period last year.
“Continued growth in June retail sales shows enduring strength in the American consumer,” commented NRF President and CEO Matthew Shay.
An unusually high year-on-year jump in sales can be attributed to the reopening of most stores in June.
June sales were up year on year across the board, led by robust performance of clothing, electronic and furniture stores. Clothing and clothing accessory shops, jewellery businesses included, rose 2.6 per cent from the previous month and up 49.4 per cent year on year.
During the first six months of the 2021, sales went up 16.4 per cent over the same period in 2020.
“We’re continuing to see an impressive recovery,” NRF Chief Economist Jack Kleinhenz said. “Reopening of both stores and the overall economy has progressed, and even higher prices seen in some retail categories reflecting the push-and-pull of supply chain challenges haven’t proven to be a deterrent to spending.”