- Retail sales up 0.6% m/m vs 0.2% expected; control group jumps 0.7% - Online and clothing sales drive gains; autos slow after strong run - Restaurant receipts up 0.7%, pointing to non-essential spending - ‘Mighty consumer’ underpinning US economy despite headwinds - Analyst
US spending data continues to defy expectations of a slowdown amid a softer labour market and persistent inflation.
The latest Census Bureau report showed retail sales rose 0.6% m/m in August, above the 0.2% forecast and matching July’s upwardly revised print. Sales excluding autos increased 0.7% m/m, compared with 0.4% expected and reported previously. Excluding both autos and gasoline, sales also gained 0.7%. The control group, which feeds into GDP calculations, advanced 0.7%, up from 0.3% in July and stronger than the 0.4% consensus.
Total sales for the June–August period were 4.5% higher than those of the same period a year earlier.
Gains were broad-based, led by a surge in online purchases and back-to-school clothing demand. Auto sales slowed after two months of robust gains, while restaurant receipts rose 0.7%, pointing to renewed household spending in some non-essential categories.
“American consumers continue to flex their muscle,” said Priscilla Thiagamoorthy, senior economist at BMO Capital Markets. “The US economy is still humming. The August retail sales report proved that the strength of the mighty consumer cannot be easily discounted. So far, there has been little evidence that tariffs or softer labour market conditions are weighing on demand. American households—the biggest pillar of the economy—are still holding up thanks to healthy balance sheets sporting record-high household net worth.”
Ahead of an expected quarter-point cut from the US Federal Reserve tomorrow afternoon, Tuesday’s report offered further insight into the health of the world’s largest economy and may ease calls for a more aggressive easing cycle.
“This reinforces our forecast for a solid 2% annualised growth rate in Q3 real GDP, with risks tilted toward even faster growth,” said Kathy Bostjancic, chief economist at Nationwide.
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- Retail sales up 0.6% m/m vs 0.2% expected; control group jumps 0.7%
- Online and clothing sales drive gains; autos slow after strong run
- Restaurant receipts up 0.7%, pointing to non-essential spending
- ‘Mighty consumer’ underpinning US economy despite headwinds - Analyst
By Harry Daniels
LiveSquawk News
@HarryDaniels71
16 September 2025 | 18:00 GMT
US spending data continues to defy expectations of a slowdown amid a softer labour market and persistent inflation.
The latest Census Bureau report showed retail sales rose 0.6% m/m in August, above the 0.2% forecast and matching July’s upwardly revised print. Sales excluding autos increased 0.7% m/m, compared with 0.4% expected and reported previously. Excluding both autos and gasoline, sales also gained 0.7%. The control group, which feeds into GDP calculations, advanced 0.7%, up from 0.3% in July and stronger than the 0.4% consensus.
Total sales for the June–August period were 4.5% higher than those of the same period a year earlier.
Gains were broad-based, led by a surge in online purchases and back-to-school clothing demand. Auto sales slowed after two months of robust gains, while restaurant receipts rose 0.7%, pointing to renewed household spending in some non-essential categories.
“American consumers continue to flex their muscle,” said Priscilla Thiagamoorthy, senior economist at BMO Capital Markets. “The US economy is still humming. The August retail sales report proved that the strength of the mighty consumer cannot be easily discounted. So far, there has been little evidence that tariffs or softer labour market conditions are weighing on demand. American households—the biggest pillar of the economy—are still holding up thanks to healthy balance sheets sporting record-high household net worth.”
Ahead of an expected quarter-point cut from the US Federal Reserve tomorrow afternoon, Tuesday’s report offered further insight into the health of the world’s largest economy and may ease calls for a more aggressive easing cycle.
“This reinforces our forecast for a solid 2% annualised growth rate in Q3 real GDP, with risks tilted toward even faster growth,” said Kathy Bostjancic, chief economist at Nationwide.