• U.S. retail sales increase more than forecast in August

Market news

13 September 2019

U.S. retail sales increase more than forecast in August

The Commerce Department announced on Friday the sales at U.S. retailers rose 0.4 percent m-o-m in August, following a revised 0.8 percent m-o-m advance in July (originally a gain of 0.7 percent m-o-m), primarily supported by higher auto buying.

Economists had expected total sales would increase 0.2 percent m-o-m in August.

Excluding auto, retail sales were unchanged m-o-m in August after an unrevised 1.0 percent m-o-m surge in the previous month, missing economists’ forecast for a 0.1 percent m-o-m gain.

Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, rose 0.3 percent m-o-m in August after a 0.9 percent m-o-m rise in July.

In y-o-y terms, the U.S. retail sales surged 4.1 percent in August, accelerating from an advance of 3.4 percent in the previous month.

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