Rise in car sales and construction materials, led U.S. retail sales in May

June 12, 2014 - PRLog -- The growth in retail and food services sales, continues to slow, after the slowdown in April, as as the americans spend less in department stores, soften total sales.
U.S. retail sales increased by 0.3 % in May to $437.6 billion on the seasonally adjusted basis, reported by the Commerce Department. Strong sales at motor vehicle and parts dealers, have contributed to overall increase in retail sales.

Soft sales are generally unwelcomed news for investors, as retail sales account for about half of total consumer spending and about a third of final sales in the U.S. economy. Over the past 12 months, meanwhile sales excluding volatile motor vehicle and parts sales, increased less than overall retail sales, over the last 12 months, retail sales have climbed by 3.9 %.

Sales of essentials remained unchanged on the seasonally adjusted basis, led by higher sales in furnishings stores, gasoline stations and retail stores. Sporting goods, hobby, book and music stores sales fell. Sale of essentials like food and gasoline advanced by 1.6 % for the year.

Retail and food services sales excluding motor vehicle and parts rose sequentially less than a half of total retail and food services sales growth by 0.1 % on the seasonally adjusted basis, led by higher sales in furnishings stores, gasoline stations and retail stores. Sporting goods, hobby, book and music stores sales fell.

Core sales excludes the volatile car sales in order to provide better idea about longer-term sales trends.
Excluding the volatile auto sector sales advanced by 2.1 % for the year.

April retail and food services sales were revised to $436.2 billion to show 0.5 % growth.

In May, sales increased 1.1% at building materials dealers, internet retailers increased by 0.6%.

Meanwhile, sales decreased -0.3% at electronics and appliance stores, clothing and accessories stores -0.6%.

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