Retail Sales Dipped in August

There were $474.8 billion in retail and food service sales in August, down 0.2% from the previous month but up 3.2% from August 2016, according to the U.S. Census Bureau. July’s number was downwardly revised to reflect 0.3% growth.

Core retail sales – excluding automobiles and parts – grew 0.2%. Year-over-year core sales increased 3.6%.

Retail trade sales decreased 0.3% from July but up 3.3% from last year. Sales at nonstore retailers fell 1.1% following July’s 1.8% gain. Nonstore retailer sales are up 8.4% year-over-year as online retailers continue to grow their market share.

Sales at gasoline stations increased 2.5% during August after falling in two preceding months. Gasoline station sales are up 6.4% since August 2016.

Read the Census release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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