Retail and food services sales in the United States increased by 1.2% in August, marking the largest monthly gain since March. This growth follows a 0.6% decline recorded in July, which was the first monthly drop in nine months.
On a year-over-year basis, retail sales grew by 6.0% in August. The total sales volume for July reached $763.6 billion. Core retail sales, excluding automobiles, gas stations, and restaurants, rose by 0.1% month-over-month, with annual growth of 3.3%.
The control group, which excludes autos, gas, building materials, and food services, saw a 1.4% monthly increase. This specific metric is used for GDP calculations and suggests that third-quarter economic growth may exceed initial expectations.
Growth was particularly notable in the health and personal care sectors, as well as in online and non-store retail segments. Analysts attribute the volatility in monthly data to promotional events like Amazon Prime Day and seasonal back-to-school shopping.
