July Advanced Retail Sales Below Consensus

ADVANCE MONTHLY SALES FOR RETAIL TRADE AND FOOD SERVICES
JULY 2008

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for July, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $384.6 billion, a decrease of 0.1 percent (±0.5%)* from the previous month and 2.6 percent (±0.7%) above July 2007. Total sales for the May through July 2008 period were up 2.7 percent (±0.5%) from the same period a year ago. The May to June 2008 percent change was revised from +0.1 percent (±0.5%)* to +0.3 percent (±0.2%).
Retail trade sales were down 0.1 percent (±0.5%)* from June 2008, but were 2.6 percent (±0.7%) above last year. Gasoline station sales were up 24.6 percent (±2.0%) from July 2007 and sales of nonstore retailers were up 7.7 percent (±2.0%) from last year.