Retail sales rose again in July, marking the 10th consecutive month of gains, according to the CNBC/NRF Retail Monitor released by the National Retail Federation. Sales grew 8.3 percent year-over-year at general merchandise stores and 6.6 percent at clothing and accessories stores while declining 3.3 percent at sporting goods, hobby, music and book stores.

“Retail sales maintained their steady upward momentum in July as consumers kept shopping despite ups and downs in other economic indicators,” NRF President and CEO Matthew Shay said. “Supported by a low unemployment rate and steady wage gains, households remained budget conscious but took full advantage of midsummer sales and early back-to-school promotions to stretch their dollars. Retailers helped balance budgets by remaining committed to affordability, ensuring that everyday products remain accessible for American families.”

Total retail sales, excluding automobile dealers and gasoline stations, were up 0.32 percent seasonally adjusted month over month and up 5.15 percent unadjusted year over year in July, according to the Retail Monitor. That compared with increases of 0.33 percent month over month and 9.41 percent year over year in June.

The Retail Monitor calculation of core retail sales (excluding restaurants in addition to auto dealers and gas stations) was up 0.3 percent month over month in July and was up 4.72 percent year over year. That compared with increases of 0.36 percent month over month and 10.08 percent year over year in June.

Total sales were up 6.57 percent year over year during the first seven months of the year, and core sales were up 6.53 percent.Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.

July sales were up in all but two of nine categories on a yearly basis, led by electronics stores, digital products and health and personal care stores, and were up in all but four categories on a monthly basis. Specifics from key sectors include:

  • Electronics and appliance stores were down 0.05 percent month over month seasonally adjusted but up 12.04 percent year over year unadjusted.
  • Digital products (such as electronic books and games) were up 1.21 percent month over month seasonally adjusted and up 12.02 percent year over year unadjusted.
  • Health and personal care stores were up 0.53 percent month over month seasonally adjusted and up 10.07 percent year over year unadjusted.
  • General merchandise stores were up 0.47 percent month over month seasonally adjusted and up 8.3 percent year over year unadjusted.
  • Clothing and accessories stores were up 0.51 percent month over month seasonally adjusted and up 6.55 percent year over year unadjusted.
  • Grocery and beverage stores were up 0.46 percent month over month seasonally adjusted and up 4.52 percent year over year unadjusted.
  • Furniture and home furnishings stores were down 0.04 percent month over month seasonally adjusted but up 2.71 percent year over year unadjusted.
  • Building and garden supply stores were down 0.17 percent month over month seasonally adjusted and down 1.2 percent year over year unadjusted.
  • Sporting goods, hobby, music and book stores were down 0.47 percent month over month seasonally adjusted and down 3.01 percent year over year unadjusted.

Image courtesy Dick’s/Lids