July retail sales up 0.3%

National Retail Federation reports that retail industry sales (excluding automobiles, gas stations and restaurants) in July increased 0.3% seasonally adjusted from the previous month and 4% unadjusted year-over-year.

“In a week of stock market volatility, retail continues to be a steadying force in the economic recovery,” said NRF president and CEO Matthew Shay. “Consumers are showing that they still have spending power, and with a renewed focus on job creation we are optimistic this recovery can still get back on track.”

July retail sales figures released by the U.S. Commerce Dept. show total retail sales (including non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.5% seasonally adjusted month-to-month and 6.5% unadjusted year-over-year.

Building material and garden equipment and supplies stores sales increased 1.4% seasonally adjusted over the previous month and 3.6% unadjusted year-over-year.