United States Retail July 2022

United States

United States: Retail sales are unchanged in July

August 17, 2022

Retail sales were flat month-on-month in seasonally-adjusted terms in July (June: +0.8% mom). July's figure marked the worst reading since December 2021. July's deterioration was largely driven by contractions in motor vehicle and parts dealers, general merchandise stores and gasoline station sales. In contrast, sales at non-store retailers accelerated.

On an annual basis, retail sales rose at a faster rate of 10.3% in July (June: +8.5% yoy). Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 12.7% in July, down from June's 13.2%.

FocusEconomics Consensus Forecast panelists see private consumption growing 2.8% in 2022, which is down 0.5 percentage points from last month’s forecast. For 2023, the panel sees private consumption increasing 1.4%.


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United States Retail July 2022 1

Note: Month-on-month and year-on-year variation of nominal retail sales in %.
Source: United States Census Bureau.


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