US Retail Sales Fell to 6-Month Low in August

Forex News

Volumes of retail sales in the US showed the smallest gain in six months, amid reduction of purchases of motor vehicles and clothing. The US Commerce Department reported, that retail sales rose by only 0.1% mom last month (the smallest rise since February). Economists had forecast retail sales increasing 0.4% in August. On annual basis, US retail sales advanced 6.6%.

Excluding automobiles, gasoline, building materials and food services, retail sales increased by 0.1% last month after an upwardly revised 0.8% growth in July. Auto sales dropped by 0.8% in August after slipping 0.1% in July. Receipts at service stations surged 1.7%.

Online and mail-order retail sales grew by 0.7% in August after accelerating 1.5% in July. Receipts at furniture stores fell 0.3% and sales at building material stores were unchanged last month. Spending at hobby, musical instrument and bookstores rose 0.2%in August.