U.S. Retail Sales Rebound Strongly in August, Exceeding Forecasts
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
- August U.S. retail sales surged 1.2%, beating 0.7% forecast.
- Followed revised 0.5% July drop; yearly sales up 6.0%.
- 12/13 categories gained, driven by online sales, savings drawdowns.
U.S. retail sales experienced a notable increase in August, rising by 1.2%, according to a report from the Commerce Department. This figure significantly exceeded economists’ expectations, who had anticipated a 0.7% rise for the month. The strong advance follows a revised 0.5% decline in July, which was initially reported as a 0.6% drop. The broad-based increase in sales highlights continued resilience in consumer spending, potentially influencing future monetary policy considerations.
U.S. retail sales surged 1.2% month-over-month in August, reaching $773.9 billion, significantly surpassing market expectations of a 0.7%-0.8% increase. This strong rebound followed a revised 0.5% contraction in July (originally reported as 0.6%). On a yearly basis, sales were up 6.0%. The broad-based increase saw 12 of 13 retail categories report gains, driven by factors such as back-to-school shopping and a surge in internet sales, partly influenced by an earlier-than-usual Amazon Prime Day. Consumers demonstrated continued spending despite higher gasoline prices and pessimistic sentiment, reportedly willing to draw down savings.