twice connect

CE, Majaps Led July Retail Sales: MasterCard

8/12/2010 10:20:10 AM Eastern

Purchase, N.Y. - Consumer
electronics and major appliances were among the top-selling categories at
retail last month.

According to the
latest SpendingPulse report from MasterCard Advisors, CE and majaps joined travel
and e-commerce on the short list of sectors showing sales strength in an
otherwise weak July.

The monthly retail
assessment, produced by MasterCard's professional services segment, showed that
total retail sales -- seasonally adjusted and excluding gasoline and autos --
were essentially flat last month, with a 0.1 percent increase from June and a
0.4 percent gain from the year-ago period.

"After several
months of sales slowdown, total retail sales have stabilized somewhat, although
overall growth has slowed sharply since earlier this year," said Kamalesh Rao,
economic research director for MasterCard Advisors SpendingPulse. "In fact,
growth in July headline numbers was driven largely by an increase in spending
on gasoline. The ex-auto year-over-year numbers tell a similar story of a
shallow and stabilizing trough."

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