Updated: 16-Sep-20 09:25 ET
| August Retail Sales |
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| Updated: 16-Sep-20 09:25 ET |
Highlights
- Total sales were up 0.6% m/m in August (Briefing.com consensus 1.0%), following a downwardly revised 0.9% increase (from 1.2%) in July, and were up 2.6% yr/yr.
- Excluding autos, sales were up 0.7% (Briefing.com consensus 1.0%), following a downwardly revised 1.3% increase (from 1.9%) in July, and were up 2.1% yr/yr.
Key Factors
- Motor vehicle and parts sales were up 0.2% following a 1.0% decline in July.
- Gasoline station sales increased 0.4% following a 4.4% increase in July.
- Food services and drinking places sales jumped 4.7% on top of a 4.1% increase in July.
- Furniture and home furnishing sales rose 2.1% compared to a 0.9% increase in July.
- General merchandise store sales declined 0.4% following a 1.1% decline in July.
- Nonstore retailer sales were flat after increasing 0.3% in July.
- Core sales, which exclude auto, building material, gasoline station, and food services and drinking places, declined 0.2% m/m.
Big Picture
- The key takeaway from the report is that it points to some slowing in retail spending activity following the expiration of enhanced unemployment benefits, but, importantly, it didn't reveal a spending contraction as increases were seen in many categories.
| Category | AUG | JUL | JUN | MAY | APR |
| Retail Sales | 0.6% | 0.9% | 8.6% | 18.3% | -14.7% |
| Excluding Autos | 0.7% | 1.3% | 8.4% | 12.3% | -15.2% |
| Durable goods | |||||
| Building Materials | 2.0% | -2.4% | 1.1% | 12.8% | -2.2% |
| Autos/parts | 0.2% | -1.0% | 9.0% | 48.3% | -12.2% |
| Furniture | 2.1% | 0.9% | 39.0% | 77.1% | -48.9% |
| Nondurable goods | |||||
| General Merchandise | -0.4% | -1.1% | 3.0% | 6.0% | -13.6% |
| Food | -1.2% | 0.6% | -1.6% | 2.2% | -12.9% |
| Gasoline stations | 0.4% | 4.4% | 15.0% | 12.0% | -24.5% |
| Clothing | 2.9% | 2.2% | 99.7% | 180.1% | -73.5% |
| e*retailing/non-store | 0.0% | 0.3% | -2.8% | 7.7% | 9.4% |
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