Retail Sales for August Revised 0.6% Higher to $539 Billion
Washington, D.C. (PPD) — The U.S. Census Bureau reported advance retail sales soared to $549.5 billion in September, a 1.9% (± 0.5%) gain that crushed the consensus forecast. That’s 5.6% (± 0.7%) above September 2019 and total sales for the July 2020 through September 2020 period were up 3.6% (± 0.5%) from the same period a year ago.
Forecasts ranged from a low of 0.2% to a high of 2.3%. The consensus forecast was 0.7%.
The prior month was revised up from $537.5 billion to $539.0 billion. The July 2020 to August 2020 percent change was unrevised at up 0.6% (± 0.2%).
Retail trade sales also rose 1.9% (± 0.5%) in September, and 8.2% (± 0.7%) year-over-year. Nonstore retailers saw a 23.8% (± 1.6%) increase from September 2019, while building material and garden equipment and supplies dealers saw 19.1% (± 2.1%) gains from the same period last year.
