US Retail Sales Surge 1.2% in August, Beating Estimates of 0.8%
Deep News
2 hours ago
US retail sales climbed 1.2% in August compared to the prior month, surpassing the 0.8% forecast from economists.
Excluding automobiles, retail sales advanced 1.4% month-over-month, well ahead of the 0.6% expected gain. The projections from 63 economists ranged between 0.1% and 1.3% for this metric.
Total retail sales value reached $773.9 billion during August, reflecting robust consumer spending across several categories.
The "control group" measure, which strips out volatile components such as food services, auto dealers, building materials, and gas stations, also rose 1.4% from the previous month, indicating strong underlying momentum in core retail activity.
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