The
Commerce Department reported on Thursday the sales at U.S. retailers rose 0.8 percent
m-o-m in August, following a revised 1.8 percent m-o-m fall in July (originally
a 1.1 percent m-o-m decrease).
Economists
had expected total sales would decline 0.8 percent m-o-m in August.
According to the report, the August increase in retail sales was led
by higher sales at nonstore retailers (+5.3 percent m-o-m), furniture stores (+3.7 percent m-o-m), general
merchandise stores (+3.5 percent m-o-m) and food and
beverages stores (+1.8 percent m-o-m). These gains, however,
were partly offset by a decline in sales at motor vehicles and parts dealers
(-3.6 percent m-o-m).
Excluding
auto, retail sales surged 1.8 percent m-o-m in August after a revised 1.0
percent m-o-m drop in the previous month (originally a 0.4 percent m-o-m fall),
being much better than economists’ forecast of a 0.1 percent m-o-m decrease.
Meanwhile, closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, and are used in GDP calculations, climbed 2.5 percent m-o-m in August after a revised 1.9 percent m-o-m decline in July (originally a 1.0 percent m-o-m drop).
In y-o-y terms, the U.S. retail sales climb 15.1
percent in August after a revised 15.1 percent surge in the previous month
(originally an15.8 percent jump).