Overall retail sales in the US fell in June, the second straight month they have done so, highlighting worries that the recent resurgence in the market could fade during the second half of the year. According to figures from the Commerce Department, retail sales were down 0.5% month-on-month in June, and they edged down 0.1% excluding auto sales.

Six of 13 major retail categories reported a drop in demand, including sales at grocery, DIY, furniture, and sporting goods chains. Core retail sales - excluding autos, gasoline and building materials – were up 0.2% in the month.

A separate report also showed that companies have begun preparing for an anticipated slowdown in demand, with inventories up just 0.1% month-on-month in May, the slowest rise so far this year. Another report added that prices of imported goods fell by 1.3%, the sharpest drop since January 2009, led by declines in costs of oil, business equipment and consumer goods.

However, compared with June 2009, sales during the month rose by 4.8%. And for the first six months of the year, retail sales were 6.5% higher year-on-year.

NamNews - Thursday 15th July 2010

 

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