June Electronics Store Sales Slumped 5.8% From 2018, Says NRF
June retail sales at electronics and appliance stores declined 5.8 percent year over year and were down 0.3 percent sequentially from May, said the National Retail Federation Tuesday. Overall retail sales for the month were up 2.3 percent from June…
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2018, but down 0.6 percent from May, said NRF. Online and other non-store sales were up 11.6 percent year over year and up 1.7 percent sequentially from May, it said. “These are impressive results showing that the consumer remains engaged and that consumer spending gave a boost to the economy in the second quarter,” it said. “The numbers are consistent with elevated consumer sentiment, healthy household balance sheets, low inflation and wage and job gains.” The growth in June compared with the same 2018 month “is particularly significant given that it comes on top of strong gains at this time last year,” said NRF. “While the prospect of tariff increases has subsided for the moment, trade uncertainties continue to weigh on the long-term outlook.”