California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The advance estimates of U.S. retail and food services sales for June, adjusted for
seasonal variation and holiday and trading-day differences, but not for price changes,
were $387.8 billion, an increase of 0.1 percent (±0.5%) from the previous month, and
8.1 percent (±0.7%) above June 2010.

Consumers spent more on cars and in big chain stores however, it did little if anything
than create a small uptick in retail sales. Analysts and economists alike describe the
lackluster report on a stagnate employment market, as consumers still contend with
employment.

Retail sales were up by the narrowest of margins as May’s number was $387.2 billion.
Increases were seen in automobile sales, building material and garden equipment, food
and beverage, health and personal care, clothing and clothing accessories and general
merchandise. Decreases were seen in furniture and home furnishings, electronics and
appliances and sporting goods, hobbies, books and music stores.

I am Tim Johnson and this has been the California Business Minute.