Hardware Retailing The Industry's Source for Insights and Information
Americans spent less on home improvement and garden products in June than in May, according to estimates from the U.S. Census Bureau.
Shoppers reduced their home improvement spending by 1.3 percent in that period. The June 2014 to June 2015 drop was 1.4 percent.
Overall retail and food service sales fell 0.3 percent from May to June in the U.S.
“Retail-sales data, a key gauge for overall consumer spending, have been volatile in recent months,” according to an article from The Wall Street Journal. “Overall, consumers have picked up their spending following a frigid winter that kept shoppers at home. But there’s little evidence of a strong rebound.”
“…household caution still appears to be holding back a more rapid pace of spending growth,” J.P. Morgan chief U.S. economist Michael Feroli says in the article.
To take a closer look at the data from the U.S. Census Bureau, click here.
