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Retail Sales Increase 0.3% in August


by Calculated Risk on 9/15/2022 08:43:00 AM

On a monthly basis, retail sales were up 0.3% from July to August (seasonally adjusted), and sales were up 9.1 percent from July 2021.

From the Census Bureau report:

Advance estimates of U.S. retail and food services sales for August 2022, adjusted for seasonal variation
and holiday and trading-day differences, but not for price changes, were $683.3 billion, an increase of 0.3
percent from the previous month, and 9.1 percent above August 2021. … The June 2022 to July 2022 percent change was revised from virtually unchanged to down 0.4 percent.
emphasis added

Click on graph for larger image.

This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).

Retail sales ex-gasoline were up 0.8% in August.

The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.

Retail and Food service sales, ex-gasoline, increased by 7.6% on a YoY basis.

Sales in August were slightly above expectations, and sales in May, June and July were revised up, combined.

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