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The Commerce Department is set to release its monthly retail sales report for July on Wednesday, with economists expecting headline sales rose 0.1%, a modest increase after climbing 1.0% in June ...
Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, would fall 0.3% after a previously reported 0.1% gain in May. Retail sales ...
The 2024 forecast is in line with the 10-year pre-pandemic average annual sales growth of 3.6%. [43] Additionally, NRF issues a retail sales forecast for each winter holiday season. Retail sales during the 2023 November to December holiday season grew 3.8% over 2022 to a record $964.4 billion. [44]
Retail sales rose 0.1% last month after a downwardly revised 0.2% drop in April, the Commerce Department's Census Bureau said. Retail sales were previously reported to have been unchanged in April.
The department was originally created as the United States Department of Commerce and Labor on February 14, 1903. It was subsequently renamed the Department of Commerce on March 4, 1913, as the bureaus and agencies specializing in labor were transferred to the new Department of Labor.
A customer checks prices while shopping at a retail store in Vernon Hills, Ill., Monday, June 12, 2023. On Tuesday, the Commerce Department released U.S. retail sales data for June.
Since 1951, the U.S. Census Bureau has published the Retail Sales report every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one.
Excluding sales at auto dealerships and gas stations, sales were down 0.5% for the month. The decline was bigger than the 0.10% drop that economists projected and marked the lowest monthly figure ...