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Free AccessMNI DATA IMPACT: US August Retail Sales +0.4%, Above Expectations>
--Retail Sales Ex. Motor Vehicle Flat; Ex. Mtr Veh and Gas +0.1%
By Alexandra Kelley
WASHINGTON (MNI) - The value of retail sales rose 0.4% in August,
well above the 0.2% gain expected by markets. This followed a
upwardly revised 0.8% in the previous month, according to data
released Friday by the Commerce Department.
Excluding motor vehicles, retail sales saw no change after turning
in 1.0% in July. The year over year rate for retail sales excluding
motor vehicle, however, increased by 3.5%. Control group sales excluding
motor vehicle, gasoline station, and building material sales) was flat
as well.
Here are some of the key takeaways from the data:
- Gasoline station sales declined by 0.9% and motor vehicle sales
rose, accelerating by 1.8%. Outside of those two more volatile
categories, retail trade sales were still up by 0.6%.
- Nonstore retailers, referring to digital stores and mail-order
purchases, jumped by 1.6% in August, suggesting strong e-commerce
shopping.
- Building material and garden equipment sales also increased,
moving to 1.4% growth from a 1.0% increase in July. This jump speaks to
the unmet demand for housing in the U.S. market and implies more
construction in future months.
- Food services & drinking places reported a sizeable decline of
1.2% in August as opposed to the steady 0.6% growth seen in July.
** MNI Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.