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.