July 13, 2007
Retail sales? Not buying it
By Matthew L. Brown
Retail sales in June took their biggest monthly dive in about two years, according to the U.S. Department of Commerce.
Adjusted for seasonal variation, holiday and trading-day differences, but not for price changes, U.S. retail and food service sales were $373.9 billion in June, a decrease of 0.9 percent from the previous month.
However, the department notes the margin of error for its percentage change figure is +/- 0.7 percent.
According to the department, total sales for the April through June 2007 period were up 3.9 percent from the same period a year ago. The April to May 2007 percent change was revised from a gain of 1.4 percent to a gain of 1.5 percent.
Retail trade sales were down 1.0 percent, a figure that carries a margin of error of +/- 0.7 percent, from May 2007, but were 3.5 percent above last year, the department said.
Adjusted for seasonal variation, holiday and trading-day differences, but not for price changes, U.S. retail and food service sales were $373.9 billion in June, a decrease of 0.9 percent from the previous month.
However, the department notes the margin of error for its percentage change figure is +/- 0.7 percent.
According to the department, total sales for the April through June 2007 period were up 3.9 percent from the same period a year ago. The April to May 2007 percent change was revised from a gain of 1.4 percent to a gain of 1.5 percent.
Retail trade sales were down 1.0 percent, a figure that carries a margin of error of +/- 0.7 percent, from May 2007, but were 3.5 percent above last year, the department said.
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