Sector Performance
Retail trade sales specifically saw a slight 0.1% decrease from May 2024. However, they still managed a 2.0% increase compared to June 2023. Notably, nonstore retailers, which include e-commerce platforms, demonstrated strong growth with an 8.9% increase from the previous year.
Food Services Rebound
The food services and drinking places sector showed significant strength, posting a 4.4% increase compared to June 2023. This growth suggests a continued recovery in the hospitality industry.
Quarterly Performance
Looking at the broader picture, total sales for the April through June 2024 period were up 2.5% from the same period a year ago. This indicates a steady, if modest, expansion in retail activity over the quarter.
Revisions to Previous Data
The report also included a revision to May’s figures….
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