U.S. retail sales likely to have risen in June, says TD Economics

U.S. retail sales are likely to have grown in June. According to a TD Economics research report, the retail sales are expected to have increased 0.1 percent in June, as drags from lower auto and gasoline station sales are more than countered by a strong pickup in core sales figures.

Motor vehicles sales dismayed for the fifth consecutive month and eased to a 16.4 million unit annual rate as compared with 16.6 million in May, and another sizeable drop in gasoline prices implies lower gasoline station sales receipts.

Core sales, stripping food services, building materials and the above categories, are likely to have partly countered these drops with a strong rise of 0.4 percent. These forecasts would be in line with the second quarter real PCE near a sound 3 percent rate, added TD Economics.

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