Spending at US retailers rose in June for the third month in a row, in a subdued show of resilience from American consumers.
Retail spending, which is adjusted for seasonality but not inflation, rose 0.2% in June, the Commerce Department reported Tuesday. That was a slower pace than the prior month’s revised 0.5% increase and below economists’ expectations of a 0.5% gain, according to Refinitiv.
Furniture sales jumped 1.4% in June from the prior month, while spending at department stores fell by 2.4% during the same period. Excluding sales at gasoline stations and on cars and parts, retail sales rose 0.3% in June from May. From a year earlier, overall retail sales rose 1.5% in June, the second-weakest pace since May 2020.