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Sunday, September 27, 2020 8:24:48 PM EDT

Retail Sales Updated 16-Sep-20 09:25AM ET

Total sales were up 0.6% m/m in August ( consensus 1.0%), following a downwardly revised 0.9% increase (from 1.2%) in July, and were up 2.6% yr/yr.

Excluding autos, sales were up 0.7% ( consensus 1.0%), following a downwardly revised 1.3% increase (from 1.9%) in July, and were up 2.1% yr/yr.

Motor vehicle and parts sales were up 0.2% following a 1.0% decline in July.

Gasoline station sales increased 0.4% following a 4.4% increase in July.

Food services and drinking places sales jumped 4.7% on top of a 4.1% increase in July.

Furniture and home furnishing sales rose 2.1% compared to a 0.9% increase in July.

General merchandise store sales declined 0.4% following a 1.1% decline in July.

Nonstore retailer sales were flat after increasing 0.3% in July.

Core sales, which exclude auto, building material, gasoline station, and food services and drinking places, declined 0.2% m/m.

The key takeaway from the report is that it points to some slowing in retail spending activity following the expiration of enhanced unemployment benefits, but, importantly, it didn't reveal a spending contraction as increases were seen in many categories.
Retail Sales0.6%0.9%8.6%18.3%-14.7%
Excluding Autos0.7%1.3%8.4%12.3%-15.2%
Durable goods
Building Materials2.0%-2.4%1.1%12.8%-2.2%
Nondurable goods
General Merchandise-0.4%-1.1%3.0%6.0%-13.6%
Gasoline stations0.4%4.4%15.0%12.0%-24.5%