Advance estimates of U.S. retail and food services sales based on U.S. Census Bureau data came in at $773.9 billion for August 2026, up 1.2% from the previous month and beating market expectations of 0.8%. This followed a decline of 0.5% in July, upwardly revised from -0.6%. Sales at gasoline stations increased 3.1% over the month in August. Total sales excluding gasoline stations increased by 1.1% from the prior month. On a year-over-year basis, retail sales were up 6.0% from August 2025.
The ABA Office of the Chief Economist believes this month’s retail sales report highlighted the resilience of consumers even as inflationary pressures continue to weigh on purchasing power. Stronger retail sales could help support demand for consumer and consumer business loans. However, as consumers spend more on essentials driven by rising prices, this could negatively impact consumer loan performance.
