Americans' retail spending flat in June as gas prices, auto sales dip

• Without autos and gas, retail sales rose a strong 0.8%.

By the numbers: Last month's shopping activity didn't pick up from May, when retail sales rose 0.3%. That figure was revised higher by 0.2 percentage points.

• The value of purchases at gas stations fell 3% in June as energy prices plunged. Retail sales tracks the value of sales transactions across retailers, though the data is not adjusted for inflation. The decline in overall prices last month — particularly for energy costs — makes spending look weak.
• Meanwhile, a cyber attack on auto dealers likely restrained purchasing activity: sales for vehicles and auto parts fell 2%.

Between the lines: Retail sales increased in nearly all of the other categories tracked by the government.

• Retail sales at online retailers jumped nearly 2%. At homebuilding supply stores, sales rose 1.4%. Retail sales rose almost 1% at health and personal care stores.
• Sporting goods stores was the only other category with a pullback (-0.1%) in sales.

The bottom line: Recent economic data suggested American consumers were slowing spending.

• When you exclude the distortions from gas and autos, the latest retail sales data muddles that narrative.