Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
An upward revision (+0.2) to already strong (+0.5) retails sales in July offset a lower than expected 0.1 gain in August. Advance estimates of U.S. retail and food services sales were $509.0 billion in August.
Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $509.0 billion. That’s 6.6% (±0.5%) above the levels in August 2017.
Total sales for the June 2018 through August 2018 period were up 6.5% (±0.5%) from the same period a year ago.
The June 2018 to July 2018 period change was revised from up 0.5% (±0.4%) to up 0.7% (±0.2%). Retail trade sales were up 0.1% (±0.5%) from July 2018, and 6.2% (±0.5%) above last year.
Gasoline Stations were up 20.3% (±1.6%) from August 2017, while Nonstore Retailers were up 10.4% (±1.4%) from last year.
