Hardware Retailing The Industry's Source for Insights and Information
Retail sales rose modestly in August, marking the 11th consecutive month of gains, according to the CNBC/NRF Retail Monitor released by the National Retail Federation.
“Retail sales climbed steadily once again in August,” says Matthew Shay, NRF president and CEO. “Supported by low unemployment and steady wage gains, households remained budget-conscious but took full advantage of back-to-school promotions to stretch their dollars. Retailers stayed committed to affordability, keeping everyday products accessible for American families.”
Total retail sales, excluding automobile dealers and gasoline stations, were up 0.22% seasonally adjusted month over month and up 3.87% seasonally adjusted year over year in August, according to the Retail Monitor. Sales increased 0.32% month over month and 5.15% year over year in July.
Core retail sales (excluding restaurants, in addition to auto dealers and gas stations) were up 0.17% month over month in August and up 3.47% year over year. Sales increased 0.3% month over month and 4.72% year over year in July.
