Ekonomické zprávy
17.09.2024

U.S. retail sales surprisingly edge up in August

The Commerce Department reported on Tuesday that sales at U.S. retailers edged up 0.1 per cent m-o-m in August, following an upwardly revised 1.1 per cent m-o-m jump (from +1.0 per cent m-o-m) in July. 

Economists had predicted total sales would slip 0.2 per cent m-o-m in August.

According to the report, the August uptick in the total retail sales was underpinned by gains in 5 of all 13 retail categories, led by miscellaneous store retailers (+1.7 per cent m-o-m), non-store retailers (+1.4 per cent m-o-m), and health and personal care stores (+0.7 per cent m-o-m). These increases, however, were offset by decreases in 7 other categories, driven by gasoline stations (-1.2 per cent m-o-m), electronics and appliance stores (-1.1 per cent m-o-m), food and beverage stores (-0.7 per cent m-o-m) and clothing and clothing accessories stores (-0.7 per cent m-o-m). Food services and drinking places demonstrated no change in retail sales last month.

Excluding auto, retail sales also rose 0.1 per cent m-o-m in August after an unrevised 0.4 per cent increase m-o-m in the previous month, missing economists’ forecast of a 0.2 per cent m-o-m advance. 

In y-o-y terms, U.S. retail sales surged 2.1 per cent in August after an upwardly revised 2.9 per cent climb (from +2.7 per cent) in the previous month.

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