US Retail Sales Rise the Least in 6 Months
Retail sales in the US edged up 0.1 percent month-over-month in August of 2018, following an upwardly revised 0.7 percent rise in July and well below market expectations of a 0.4 percent increase. It is the smallest gain in retail sales in six months, mainly due to falls in purchases of motor vehicles, clothing and furniture.
8 of 13 major retail categories showed month-over-month increases; 3 fell and 2 were flat.
Sales fell at furniture and home furniture stores (-0.3 percent compared to 0 percent in July); motor vehicles and part dealers (-0.8 percent compared to -0.1 percent); and clothing and accessories stores (-1.7 percent compared to 2.2 percent). Also, sales were flat for building material and garden equipment (0.1 percent in July) and food and beverage stores (0.8 percent). On the other hand, biggest increases were seen in sales at miscellaneous stores (2.3 percent compared to -2.3 percent); gasoline stations (1.7 percent comapred to 0.8 percent); nonstore retailers (0.7 percent compared to 1.5 percent); health and personal care stores (0.5 percent compared to 0.3 percent); electronics and appliance stores (0.4 percent compared to -0.4 percent); sporting goods, hobby, musical instrument and book stores (0.2 percent compared to -1.6 percent); food services and drinking places (0.2 percent compared to 1.6 percent); and general merchandise stores (0.1 percent compared to 1 percent).
Excluding autos, sales rose 0.3 percent (0.9 percent in July) and excluding automobiles, gasoline, building materials and food services, core retail sales went up 0.1 percent in August after an upwardly revised 0.8 percent rise in July.
Year-on-year, retail trade rose 6.6 percent in August, compared with an upwardly revised 6.7 percent increase in July.
9/14/2018 1:12:29 PM