by Calculated Risk September 17, 2024 8:30 AM
On a monthly basis, retail sales increased 0.1% from July to August (seasonally adjusted) and increased 2.1% from August 2023.
From the Census Bureau Report:
Preliminary U.S. retail and food service sales figures for August 2024, adjusted for seasonal variations and for holidays and different trading days but not for price fluctuations, were $710.8 billion. 0.1 percent increase from the previous monthup 2.1 percent from August 2023. … The percentage change from June 2024 to July 2024 was revised from a 1.0 percent increase to a 1.1 percent increase.
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This graph shows retail sales since 1992. It is seasonally adjusted monthly retail sales and food service sales (total and excluding gasoline).
Retail sales excluding gasoline rose 0.1% in August.
The second chart shows the year-over-year change in retail and food service sales (excluding gasoline) since 1993.
Sales in the retail and restaurant industries excluding gasoline increased 3.0% from the previous year.
Although the increase or decrease in sales in August was slightly less than expected, sales for June and July were both revised upward.
