Market news
16.09.2021, 12:57

U.S. retail sales unexpectedly rise in August

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).

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