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MNI BRIEF: US Retail Sales Beat Expected, July Revised Lower

MNI (Washington)

Retail sales in August were up 0.7%, far more than the 0.9% decline forecast by Bloomberg and rebounding from July's downward revised 1.8% drop.

Weakness in sales of motor vehicle (-3.6%), electronics (-3.1%), and sporting goods (-2.7%), was offset by unexpected strength in sales from non-store retailers (+5.3%), furniture stores (+3.7%), and general merchandise stores (+3.5%). Excluding vehicle sales, retail sales were up 1.8% through the month. Excluding both vehicle and gas station sales, retail sales were up 2%.

MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
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MNI Washington Bureau | +1 202-371-2121 | brooke.migdon@marketnews.com
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