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MNI BRIEF: US June Retail Sales Beats Expectations

U.S. retail sales topped expectations in June, rebounding 0.6% from a downwardly revised 1.7% decline in May. Markets had expected a decline of 0.3%.

Motor vehicles and parts sales declined 2.0% and retail sales excluding this category rose 1.3%. Analysts told MNI the inventory shortage was the main driver of the decline. Gasoline sales rose 2.5% as drivers hit the road for summer vacations, and food service sales gained another 2.3%. Non-store retailers rebounded 1.2% in the month as well.

MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | jean.yung@marketnews.com

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