U.S. retail sales dip 0.3%

United States retail and food services sales were up 1.4 percent in June compared to the previous year, according to advance monthly sales estimates from the U.S. Census Bureau.    United States retail and food services sales in June dipped 0.3 percent to $442.0 billion compared to May, according to advance monthly sales estimates from the U.S. Census Bureau and the Department of Commerce.
   The Census Bureau said sales, which are adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were up 1.4 percent compared to June 2014.
   Total sales from April 2015 through June 2015 increased 1.7 percent compared with the same period a year ago.
   Retail trade sales decreased down 0.3 percent in June compared to the previous month, but increased 0.6 percent compared with June 2014.
   Food services and drinking place sales were up 7.7 percent year-over-year in June, while sporting goods, hobby, books and music sales were up 6.6 percent. Monthly sales for gasoline stations fell 17.1 percent compared with June 2014.
   Retail sales data is considered a key indicator of consumer spending and one of many contributing factors to the overall U.S. economy. Census Bureau advance estimates are based on a subsample of the agency’s full retail and food services sample, which is then weighted and benchmarked to represent the complete universe of over three million retail and food services firms.