What are Retail sales?
Retail sales track consumer demand for finished goods over a defined period of time. It is calculated by measuring the purchases of durable and non-durable goods over that period. It is a leading macroeconomic indicator of the overall economic state and its projected path toward expansion or contraction. Retail sales figures are reported by all foodservice and retail stores.
Data on retail sales are released monthly by the U.S. Bureau of the Census and includes sales from all foodservice and retail stores. Consumer spending accounts for two-thirds of U.S. gross domestic product (GDP), therefore an accurate measure of retail sales is important for gauging the economic health of the U.S.
Core retail sales (Retail sales ex. Autos)
The core retail sales number excluding consumer spending on automobiles. Automobile sales account for approximately 20% of Retail Sales but they are very volatile and can skew the overall data. The Core retail sales, therefore, provide a better gauge of spending trends.
The percentage increase or decrease of core retail sales from month to month is a good indication of whether the economy is contracting or expanding, and how fast.
Very strong or very weak retail sales can put upward or downward pressure on prices.
Upward pressure on price may eventually take hold as retail sales surges, especially when the numbers continue to rise for months. A low retail sale for a long period indicates that consumers are spending less and the prices will drop.
July 2021 Advance monthly sales for retail and food services
- Advance estimates of U.S. retail and food services sales for July 2021, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $617.7 billion,
- Advance estimates of U.S. retail and food services sales decrease of 1.1 percent (±0.5 percent) from the previous month, but 15.8 percent (±0.7 percent) above July 2020.
- Total sales for the May 2021 through July 2021 period were up 20.6 percent (±0.5 percent) from the same period a year ago.
- The May 2021 to June 2021 percent change was revised from up 0.6 percent (±0.5 percent) to up 0.7 percent (±0.2 percent).
- Retail trade sales were down 1.5 percent (±0.5 percent) from June 2021, but up 13.3 percent (±0.7 percent) above last year.
- Clothing and clothing accessories stores were up 43.4 percent (±2.8 percent) from July 2020,
- Food services and drinking places were up 38.4 percent (±3.0 percent) from last year.
- The August 2021 Advance Monthly Retail report is scheduled for release on September 16, 2021 at 8:30 a.m. EDT
Core Retail trades and food services from 2019 to 2021
Core Retail trades and food services from 2010 to 2021
Retail sales July China
In July, the total retail sales of consumer goods was 3,492.5 billion yuan, an increase of 8.5% year-on-year; an increase of 7.2% over July 2019, and the two-year average growth rate was 3.6%. Among them, the retail sales of consumer goods other than automobiles was 3,157.8 billion yuan, an increase of 9.7%. Excluding price factors, the total retail sales of consumer goods in July actually increased by 6.4%.
From January to July, the total retail sales of consumer goods was 24,46829 billion yuan, a year-on-year increase of 20.7%, and the two-year average growth rate was 4.3%. Among them, the retail sales of consumer goods other than automobiles was 22,163.1 billion yuan, an increase of 20.2%.
According to the location of the business unit, in July, the retail sales of consumer goods in urban areas was 3,037.9 billion yuan, an increase of 8.4% year-on-year; the retail sales of consumer goods in rural areas was 454.7 billion yuan, an increase of 8.8%. From January to July, the retail sales of consumer goods in urban areas was 21,447.6 billion yuan, a year-on-year increase of 20.9%; the retail sales of consumer goods in rural areas was 3,235.3 billion yuan, an increase of 19.4%.
Classified by consumption type, in July, retail sales of goods amounted to 31174 billion yuan, an increase of 7.8% year-on-year; catering revenue was 375.1 billion yuan, an increase of 14.3%. From January to July, retail sales of goods amounted to 22,136.6 billion yuan, an increase of 18.7% year-on-year; catering revenue was 2,546.3 billion yuan, an increase of 42.3%.
From January to July, the national online retail sales reached 7.1108 billion yuan, a year-on-year increase of 21.9%. Among them, the online retail sales of physical goods was 5,813 billion yuan, an increase of 17.6%, accounting for 23.6% of the total retail sales of consumer goods; among the online retail sales of physical goods, food, clothing, and consumer goods increased by 23.7% and 21.6%, respectively. And 15.8%.
In July, the consumer market was affected by factors such as extreme weather and the occurrence of multiple epidemics, and the growth rate of market sales fell. But overall, the continued recovery of the consumer market has not changed. The sales of some upgraded products have grown rapidly, and emerging consumption has been steadily improving. Under the influence of extreme weather and the epidemic, the market sales growth rate has slowed down, but the recovery growth trend of the consumer market has not changed, and the development of upgraded products and emerging consumption is good. In the next stage, as the current round of the epidemic is effectively controlled, the prevention and control of the epidemic will be more precise and effective, and the consumer market is expected to continue its stable recovery.