PiCK
US August Retail Sales Rise 1.2% From Prior Month, Beating Forecasts
Summary
- U.S. retail sales rose 1.2% in August from the previous month, beating economists' 0.8% forecast by 0.4 percentage point.
- August retail sales rose 6.0% from a year earlier, while the July reading was revised to a 0.5% decline from the previous month.
- Wall Street had worried that uncertainty over tariff policy under Trump's second administration and recession fears could weaken U.S. consumer sentiment.
Forecast Trend Report by Period
U.S. retail sales rose 1.2% in August from the previous month, topping market expectations.
The Commerce Department said on September 16 that retail sales increased 1.2% in August from July. That was 0.4 percentage point above economists' forecast of 0.8%.
Retail sales rose 6.0% from a year earlier. The July reading was revised to a 0.5% decline from the previous month from an earlier estimate of a 0.6% drop.
The monthly U.S. retail sales report is a preliminary indicator that primarily tracks goods purchases within overall consumer spending. It is considered a gauge of changes in consumption, a main pillar of the U.S. economy.
Wall Street had worried that uncertainty over tariff policy under Trump's second administration and fears of a recession could sour U.S. consumer sentiment and weigh on personal consumption spending.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul