U.S. retail sales rose 0.6% in June from May, the Commerce Department reported Friday morning, beating expectations of a 0.4% decline.
Why it matters: Retail’s overall recovery has been uneven, driven in part by stimulus checks, reopening patterns and seasonal demand changes.
- The same can be said for the underlying sales categories, where clothing and personal care products experienced sales growth while furnishings and building materials sales growth declined.
What to watch: For many retailers, the second quarter might be the end of a one-year period of above average consumer spending, a recent report from FTI Consulting found.