(Jeff Berman – Logistics Management)
June retail sales data issued today by the United States Department of Commerce and the National Retail Federation (NRF) was somewhat muted.
U.S. retail sales contribute around 14 percent, or $2.6 trillion to U.S. GDP. That is a major number and clearly cannot be overlooked, especially when looking at how closely connected retail and consumer activity is tied to the freight transportation and logistics sectors on so many fronts, including trucking, intermodal, parcel, ocean, air, e-commerce, and warehousing and distribution.
Commerce reported a 0.2% decrease in retail sales from May to June at $473.5 million and a 2.8% annual increase compared to June 2016. And total retail sales from April to June were up 3.8% annually, according to Commerce. Nonstore retailers, which includes a heavy focus on e-commerce, reported a 9.2% annual increase in June. Click here to read more.