Retail sales declined -0.5% for June 2010. Last month retail sales dropped -1.1%, revised. This does not bode well for economic growth.
For the year retails sales are up 4.8%. In comparison to the the three month average from a year ago, retail sales is up 6.8%. The below graph is retail trade sales monthly change.
Similar to last month's report, it was a mixed bag. Auto dealers took a -2.5% hit and gas sales were down -2.0%. Sporting goods and hobbies was dowon -1.4% while electronics was up +1.3%. Retail sales are not adjusted for price variations.
The below graph is retail sales excluding autos, with minus autos & parts, retail sales dropped -0.1%.
This is the second monthly decline for retail sales, which implies lower personal consumption expenditures, or PCE (C) for Q2 2010 GDP.