US retail sales remain steady at $704.3B in June

By Ovunc Kutlu

ISTANBUL (AA) - US retail sales in June showed no change from the previous month and remained steady at $704.3 billion, according to advance figures released Tuesday by the US Commerce Department.

The market estimate for the figure was to show a decrease of 0.3%.

The May figure, on the other hand, was revised upward from a gain of 0.1% to an increase of 0.3%.

On an annual basis, retail sales were up 2.3% in June, compared to the same month last year.

"Total sales for April 2024 through June 2024 period were up 2.5 percent from the same period a year ago," the department said in a statement.

Retail trade sales, however, were down 0.1% in June from the previous month, but they were up 2% compared to the same month of last year.

The annual gains in figures indicate that consumer demand still remains high in the world's largest economy.