US Retail Sales Fall Short

The headline print fell short of expectations for a second straight month and missed the forecast of 1.0pct. This marks the fourth straight month of improvement The prior reading was revised lower from 1.2pc to 0.9pct.


The control group – used for GDP calculation purposes and seen by analysts as a more reliable gauge of underlying consumer demand – came in below the estimate of 0.5pct, with July’s figure revised lower from 1.4pct to 0.9pct. Retail sales ex. Autos rose 0.7pct, also lagging forecasts for 1pct growth, and ex auto and gas missed expectations of 0.9pct by two-tenths.


Nine of the 13 major categories posted an increase. The biggest monthly rises were in food and beverage, and clothing stores, while sporting goods suffered the biggest falls.‚Äč