NRF Reports ‘Healthy’ June Retail Sales, Despite ‘Big Risk’ of US 'Trade War'
June retail sales increased 0.07 percent, seasonally adjusted, from May and were up 4.2 percent unadjusted from June 2017, “as economic growth continued despite the U.S. trade war with China and other countries," the National Retail Federation said July 16.…
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“This is a healthy retail sales report and consistent with underlying economic momentum that has fueled a steady run of retail sales increases,” NRF said. “The big question is whether households can continue this spending pace.” The trade war is “the big risk to the outlook,” NRF said. It fears trade frictions with China and others “could raise prices while reducing consumer confidence and household buying power,” it said. June retail sales at electronics and appliance stores were below those of other consumer sectors, rising 1.6 percent year-over-year, but declining 0.4 percent, seasonally adjusted, from May, NRF said. Overall online and other non-store sales in June were up 7.3 percent from a year earlier and up 1.3 percent from May, it said. NRF is standing by its forecast that 2018 retail sales will grow by between 3.8 percent and 4.4 percent over 2017, it said.