Newsroom

Retail sales fell 0.2 percent in June, in part due to a decline in gasoline prices that pushed gas station receipts down for the month, NAFCU Research Assistant Yun Cohen says.

"Retail sales slipped for the second straight month in June according to data published by the Census Bureau, Cohen wrote in a Macro Data Flash. "The decline was led by gas stations, where sales decreased 1.3 percent as gasoline prices dropped 2.8 percent during the month Auto and parts dealers reported slightly higher sales despite falling vehicle prices and a slower selling pace."

According to the data, released Friday by the Census Bureau, year-over-year growth in retail sales was 2.8 percent in June, down from 4.1 percent in May. This marks the slowest growth since last August. Core retail sales increased by 2.6 percent from a year ago — the smallest gain since January 2014. Sales of auto and gas rose by 3.5 percent from last year

"Despite the recent slowdown, the outlook for consumer spending remains positive in light of a strong labor market and elevated consumer confidence," she added.