U.S. retail sales rose by 0.6% in June as the economy more broadly reopened and auto dealers navigated supply disruptions
Retail sales have slowed since March, when they surged from the impact of federal coronavirus aid to households.
Auto dealers, along with online retailers and grocery, furniture and sporting-goods stores, are among businesses that benefited from strong demand earlier in the pandemic as Americans stayed at home and shifted consumption habits in response to government restrictions on businesses. Meanwhile, sales at retailers such as restaurants, bars, and clothing and accessory stores struggled.
“Fast forward to June, it’s almost a perfect flip-flop,” said Tim Quinlan, senior economist at Wells Fargo. Consumers are now thinking “anywhere but home,” which should benefit retailers in industries that were hard-hit earlier on, he said. Ann Leadbetter, co-owner of Meriwether Cider in the Boise, Idaho, area, said business has picked up at the cidery’s two locations since mask mandates were lifted earlier this spring. Once that restriction was eased, Ms. Leadbetter said she felt comfortable returning seating to the inside bar areas. She also has noticed a pickup in tourists and events, which she said is particularly helping the business’s location in downtown Boise.
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