The Globe and Mail reports in its Friday, July 17, edition that United States retail sales rose slightly in June, impacted by lower gasoline prices, but bargain-hunting consumers still supported overall spending.
A Reuters dispatch to The Globe reports that retail sales increased by 0.2 per cent last month following a revised 1-per-cent rise in May, according to the Commerce Department's Census Bureau. Economists had predicted a 0.2-per-cent gain after an initially reported 0.9-per-cent advance in May, with estimates varying from a 0.4-per-cent decline to a 1-per-cent increase.
Average gasoline prices fell to $4.18 (U.S. a gallon last month from $4.61 (U.S.) in May, data from the U.S. Energy Information Administration showed.
A recent drop in oil prices had briefly lowered pump costs, enabling increased spending. However, following the collapse of the U.S.-Iran ceasefire last week, oil and gasoline prices are now rising again.
Retail sales excluding automobiles, gasoline, building materials, and food services rose 0.5 per cent in June, following a revised 0.8 per cent increase in May. These core retail sales closely align with consumer spending in GDP and were initially reported as a 0.7-per-cent gain for May.
© 2026 Canjex Publishing Ltd. All rights reserved.