Market Updates
Retail Sales In August Rise 0.3%
Brian Turner
15 Sep, 2022
New York City
Retail sales in August rose 0.3% from July, when sales fell 0.4% after a revision, the U.S. Census Bureau and Commerce Department said Thursday.
Advance estimates of U.S. retail and food services sales for August adjusted for seasonal factors and calendar were $683.3 billion, an increase of 0.3% from the previous month, and 9.1% higher from a year ago.
July retail sales were revised lower from flat to a decline of 0.4%.
Retail sales data are not adjusted for inflation and falling gasoline prices helped consumers to make other purchases.
Gasoline stations sales declined 4.2%, furniture store sales fell 1.3%, and sales at non-store retailers decreased 0.7%.
Sales of motor vehicles and parts rose 2.8% from the previous month and 6.7% from a year ago and food and beverages increased 0.5% and 7.2% respectively.
Excluding gasoline stations, sales increased 0.8%.
Core retail sales which exclude automobiles, gasoline, building materials and food services, were flat.
The September 2022 Advance Monthly Retail report is scheduled for release on October 14, 2022 at 8:30 a.m. EDT.
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