The Commerce
Department reported on Tuesday that sales at U.S. retailers edged up 0.1 per cent m-o-m in August,
following an upwardly revised 1.1 per cent m-o-m jump (from +1.0 per cent m-o-m)
in July.
Economists had predicted
total sales would slip 0.2 per cent
m-o-m in August.
According to
the report, the August uptick
in the total retail sales was underpinned by gains in 5 of all 13 retail
categories, led by miscellaneous store retailers (+1.7 per cent m-o-m),
non-store retailers (+1.4 per cent m-o-m), and health and personal care stores
(+0.7 per cent m-o-m). These increases, however, were offset by decreases in 7 other
categories, driven by gasoline stations (-1.2 per cent m-o-m), electronics and
appliance stores (-1.1 per cent m-o-m), food and beverage stores (-0.7 per cent
m-o-m) and clothing and clothing accessories stores (-0.7 per cent m-o-m). Food
services and drinking places demonstrated no change in retail sales last month.
Excluding auto,
retail sales also rose 0.1 per cent m-o-m in August after an unrevised 0.4 per cent increase m-o-m in the previous month, missing economists’
forecast of a 0.2 per cent m-o-m advance.
In y-o-y terms, U.S. retail sales surged 2.1 per
cent in August after an upwardly revised 2.9 per cent climb (from +2.7 per cent) in the previous
month.