US retail sales rebound sharply in August
Commerce Department data showed gains at online retailers, clothing stores, furniture stores and restaurants as consumers spent more after July’s decline.
- Retail sales rose 1.2% in August according to Commerce Department data released Wednesday, rebounding from a revised 0.5% dip in July as consumers spent at a better-than-anticipated pace.
- Many Americans spent heavily during the World Cup and Amazon Prime Day this summer, following heavy retail traffic earlier in the year when consumers dipped into government tax refunds.
- Online retailers registered a 2.6% gain, while excluding gas stations, retail sales rose 1.1%; clothing stores rose 0.7% and furniture stores saw a 0.9% increase.
- Americans continue to spend despite increasing gas prices that reached $4.37 per gallon according to AAA, following renewed fighting in the Middle East.
- These government figures are not adjusted for inflation and offer only a snapshot of consumer spending, notably excluding service activities like travel and hotel stays.
125 Articles
125 Articles
Retail sales rise a better-than-expected 1.2%
Consumers may be griping about higher prices at the pump and elsewhere, but they keep spending, helping to power the economy, according to the latest government snapshot. Retail sales increased a better-than-expected 1.2% last month after recording a revised 0.5%…
Retail Sales Rebound in August, Exceed Economists' Expectations
Retail Sales Rebound in August, Exceed Economists' Expectations Retail sales bounced back in August, exceeding economists’ predictions, U.S. Census Bureau advance estimate data released Wednesday show.Compared to July, retail sales increased 1.2% in August, better than economists’ forecast of a 0.7% improvement. Meanwhile, retail sales in July were revised up, shrinking the month-to-month decline from -0.6% to -0.5%.August’s retail sales estimat…
The Washington Post
INTELLINEWSRetail sales rebound strongly in August, even as people are wary over economy
After a dismal July, spending the following month jumped back up.
U.S. Consumers Defy Price Pressures With Strongest Retail Surge in Months
U.S. retail sales surged 1.2% in August, beating forecasts and reversing July's dip with broad gains across categories. Core sales jumped 1.4%. The strong report highlights consumer resilience amid high inflation and rising gas prices, influencing Fed policy.
Recent data from the Department of Commerce reinforce expectations for a rise in Federal Reserve interest rates
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