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Tuesday, September 18, 2018
HomeNewsEconomyU.S. Retail Sales Revised Even Higher for July, Offsetting August

U.S. Retail Sales Revised Even Higher for July, Offsetting August

Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)
Group of friends sitting outdoors with shopping bags; several people holding smartphones and tablets. (Photo: AdobeStock/ OneInchPunch/PPD)

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.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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