NRF: Sales slowed across nearly all sectors in June amid ongoing tariff concerns
Retail sales slipped in June — the first monthly decline since February — amid "prolonged uncertainty" surrounding the economy, tariffs and trade policy.
Core retail sales (excluding restaurants, automobile dealers and gasoline stations) fell 0.32% month over month in June, according to the CNBC/Retail Monitor released by the National Retail Federation. Core sales were up 3.36% year over year. (The Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions.)
Sales were down month-over-month in June in all but one category: digital products such as electronic books and games.
Total retail sales (including restaurants but excluding automobiles and gasoline) were down 0.33% month over month in June, but up 3.19% year over year.
[READ MORE: Survey: Majority of Americans think tariffs are hurting economy]
For the first six months of the year, total sales rose 4.66% year over year and core sales were up 4.93%. The month-over-month drops were the first since February, when total and core sales both fell 0.22% from January.
"June’s numbers indicate that prolonged uncertainty surrounding the economy, tariffs and trade policy could be pushing consumers to adopt a ‘wait-and-see’ approach with their household budgets, said NRF president and CEO Matthew Shay. “Economic fundamentals haven’t been disrupted yet and shoppers still have the ability to spend on priorities, but the economy is gradually slowing and there has been an impact on the psyche of consumers. "While passage of the ‘Big Beautiful Bill’ is clearly supportive of economic growth, unresolved and restrictive trade policies remain a significant headwind.”
Specifics from key sectors include are below.
- Digital products (such as electronic books and games) were up 0.26% month over month and up 24.11% year over year unadjusted.
- Sporting goods, hobby, music and book stores were down 0.13% month over month but up 8.52% year over year.
- Health and personal care stores were down 0.31% month over month but up 3.47% year over year.
- General merchandise stores were down 0.15% month over month but up 3.18% year over year.
- Grocery and beverage stores were down 0.13% month over month but up 2.59% year over year.
- Clothing and accessories stores were down 0.22% month over month but up 2.71% year over year.
- Electronics and appliance stores were down 1.03% month over month but up 2.43% year over year.
- Furniture and home furnishings stores were down 1.04% month over month and down 1.14% year over year.
- Building and garden supply stores were down 0.76% month over month and down 5.33% year over year.
