Retail sales surprise the market with a 0.7% increase in August

Retail sales in the country surprise the market and analysts after an increase of 0.7% in August, while it was expected to fall 0.8%, according to data released by the US Department of Commerce.

Although the good result, which improves the falls of the 1.1% registered in July, the monthly drop in the automobile sector has caused the data to be no better. In fact, sales, excluding the aforementioned sector, have risen by 1.8% above 0.1% estimated, according to the portal Bag Mania.

On the other hand, transactions via online they have risen 5.3%. As well as purchases of furniture and household items, which are positioned with a 3.7% higher than the previous month; while general merchandise sales have increased 3.5%.

For stores electronics and appliances The reality is the opposite, they have had a fall in activity of 3.1%, likewise those of sporting goods and music 2.7%.

Activity for hotels has remained at similar figures to those of July, while the increase in sales was set in back to school.

From Oxford Economics, they comment that the reduction in consumer spending growth, which went from 11.9% (annual) in the second trimester tol 2.0% in the third, makes an impression, so “should not be seen as a sign that consumers are withdrawing.”

In contrast, households “constantly readjust their spending mix based on the pandemic they are going through, supply constraints and costs,” they say.

From Pantheon Macroeconomics They detail that “the bottom line is that this report suggests that Delta fears are not preventing people from spending some of their abundant cash resources on goods, even as they retire from services.


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