Total retail sales rose just 0.1% (Briefing.com consensus +0.4%) on the heels of an upwardly revised 0.7% increase (from +0.5%) in July.
Excluding autos, retail sales jumped 0.3% (Briefing.com consensus +0.5%) following an upwardly revised 0.9% increase (from +0.6%) in July.
Total retail sales were weighed down by a 0.8% decline in motor vehicle and parts dealers sales, as well as a 1.7% decline in clothing and clothing accessories stores sales.
Gasoline station sales rose 1.7%.
Sales at food services and drinking places rose 0.2%.
General merchandise store sales increased 0.1%, although department store sales fell 1.0%.
Sales at building material and garden equipment and supplies dealers were unchanged.
Sales at electronics and appliance stores increased 0.4%.
The upward revisions to the prior month helped mitigate some of the headline disappointment for August, yet the key takeaway from the report is that consumer spending is up and will continue to support real GDP growth in the third quarter.| AUG | JUL | JUN | MAY | APR | |
|---|---|---|---|---|---|
| Retail Sales | 0.1% | 0.7% | 0.2% | 1.2% | 0.3% |
| Excluding Autos | 0.3% | 0.9% | 0.3% | 1.4% | 0.4% |
| Durable goods | |||||
| Building Materials | 0.0% | 0.1% | 0.0% | 2.1% | -0.6% |
| Autos/parts | -0.8% | -0.1% | -0.1% | 0.6% | 0.2% |
| Furniture | -0.3% | 0.0% | 0.3% | -1.8% | 2.7% |
| Nondurable goods | |||||
| General Merchandise | 0.1% | 1.0% | -0.2% | 1.4% | -0.5% |
| Food | 0.0% | 0.8% | -0.1% | 0.1% | 0.4% |
| Gasoline stations | 1.7% | 0.8% | 0.6% | 2.9% | 0.4% |
| Clothing | -1.7% | 2.2% | -1.0% | 2.9% | 1.5% |
| e*retailing/non-store | 0.7% | 1.5% | 0.9% | 0.3% | 1.2% |
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