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Sunday, September 27, 2020
HomeNewsEconomyAdvance Retail Sales Gain 0.6% in August, 2.4% Year-Over-Year

Advance Retail Sales Gain 0.6% in August, 2.4% Year-Over-Year

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)

Washington, D.C. (PPD) — The U.S. Census Bureau reported advance retail sales came in at $537.5 billion in August, a 0.6% (± 0.5%) gain that missed the consensus forecast. That’s 2.6% (± 0.7%) above August 2019 and total sales for the June 2020 through August 2020 period are now up 2.4 (± 0.5%) from the same period a year ago.

Forecasts ranged from a low of 0.2% to a high of 2.5%. The consensus forecast was 1.0%.

The prior month was revised down slightly from a gain of 1.2% to 0.9%. The June 2020 to July 2020 change was revised from a gain of 1.2% (± 0.5%) to a gain of 0.9% (± 0.2%).

Retail trade sales are up 0.1% (± 0.5%) from July 2020, and 5.1% (± 0.7%) year-over-year. Nonstore retailers are up 22.4% (± 1.4%) from August 2019.

Written by
Staff Writing Group

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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