Retail sales in the United States, which had weakened in May, showed a rebound in June.
The U.S. Department of Commerce announced on the 17th (local time) that retail sales in June reached $720.1 billion, an increase of 0.6% compared to the previous month. This figure exceeded the expert forecast of 0.2% compiled by Dow Jones.
Retail sales in the United States decreased for two consecutive months in April (-0.2%) and May (-0.9%). The uncertainty surrounding the tariff policy of the Donald Trump administration raised concerns about weakened consumer spending.
Monthly retail sales indicators are primarily preliminary statistics that aggregate sales performance of goods in total consumption, and are considered a gauge of changes in consumer behavior, which is the backbone of the U.S. economy.
Furthermore, on the same day, the U.S. Department of Labor reported that the number of new unemployment claims for the week of July 6–12 was 221,000, a decrease of 7,000 from the previous week.
This is the lowest level in three months since the week of April 6–12 (216,000 claims) and also significantly lower than the expert forecast of 234,000 claims compiled by Dow Jones. New claims for unemployment benefits in the U.S. have shown a declining trend for five consecutive weeks since mid-last month.
The number of claims for "continuing unemployment benefits," which reflects those who have applied for unemployment benefits for two weeks or more, was 1,956,000 for the week of June 29–July 5, an increase of 2,000 from the previous week. According to the statistics on unemployment claims, the U.S. labor market still appears to be robust.