US Retail Sales Unexpected Rise in August

Bloomberg headline: US Retail Sales Unexpectedly Rise After Drop in Prior Month

:pushpin: Value of overall purchases rose 0.3% in August, above estimate

:pushpin: July retail sales were revised lower to a 0.4% decline

The value of overall retail purchases increased 0.3% last month after a downwardly revised 0.4% drop in July, Commerce Department data showed Thursday. Excluding gasoline, retail sales were up 0.8%. The figures aren’t adjusted for inflation.

The median estimate in a Bloomberg survey of economists called for a 0.1% drop in retail sales.

Eight of 13 retail categories grew last month, according to the report, including a surge in sales at auto dealers. Purchases at furniture stores, health and personal care stores and nonstore retailers declined. The value of sales at gas stations slumped again, reflecting cheaper fuel prices.