According to the National Retail Federation, retail industry sales for July (which exclude automobiles, gas stations, and restaurants) increased 3.1% unadjusted year-over-year and also declined 0.2% seasonally adjusted month-to-month. The estimates exclude purchases concerning automobiles, gas stations, and restaurants.


“Household spending remains tepid amid concerns about economic stability,” said NRF Chief Economist Jack Kleinhenz.  “Current data on the economy is mixed which signals that retailers will continue planning with caution until a long-term trend can be established.”


However, The NRF also suggests that the average family with students in grades K-12 would spend 8.3 percent more on back-to-school this year, from $548.72 last year to $594.24 this year.


Back-to-school related categories saw strong year-over-year gains. Clothing and accessories stores were up a solid 4.7% over last July, while declining 0.7% from June. Electronics and appliance stores also showed strong year-over-year gains, increasing 8.1% and declining 0.1% from last month.


“Retailers are being very aggressive and clever with their back-to-school promotional strategies,” said NRF President and CEO Matthew Shay. “While we expect consumers to respond favorably to these promotions, sustained growth remains elusive as we look to the economy to add jobs to bolster consumer confidence.”