US retailers had a solid month in July

U.S. retailers had a solid month in July, and June wasn't so bad either, with the benefit of hindsight and revisions. Total sales grew 0.6% in July, and June's decline was erased to show a flat reading. So now, we can say that retail sales have not declined since February. We already knew unit auto sales jumped in the month (2nd highest level in a decade), but even excluding the auto sector, sales rose a decent 0.4%, the third increase in a row. (Again, the prior month's drop was erased, and then some.) 

The strength was spread out among most retail store types-furniture, building and garden equipment, etc. It is always interesting to see where the gains were again, sporting goods is a good indication that consumers must be confident enough (although you couldn't tell from the two main surveys) to buy these discretionary items. Electronics/appliances were lower, as were general merchandisers and department stores.