WASHINGTON–Sales at the nation’s general-merchandise retailers edged down 0.4 percent from May to June, to $49 billion on a seasonally adjusted basis.
On a year-to-year basis, general-merchandise retail sales were down 3 percent from June 2008. This year’s June total included a 1.2 percent month-to-month decline in sales at department stores (excluding leased departments) and a 0.1 percent month-to-month drop in sales at warehouse clubs and supercenters. Overall U.S. retail sales finished June at $342.1 billion on a seasonally adjusted basis, up 0.6 percent over May but down 9 percent from June of last year.
Analyzing the monthly numbers, the National Retail Federation said U.S. consumers “continued to hold tightly to their wallets” in June. Concerns about the economy and jobs situation, along with a surprisingly rainy month, kept many shoppers home, NRF said.
“Although several economic indicators are starting to show signs of improvement, it is going to take a few more months—maybe longer—for people to feel comfortable spending again,” said Rosalind Wells, NRF’s chief economist. “High unemployment and other uncertainties will continue to impact consumer spending through the remainder of this quarter.”