By Ovunc Kutlu
ISTANBUL (AA) - US retail sales increased 0.1% to reach $710.8 billion in August, beating market estimates, according to advance figures released on Tuesday by the US Commerce Department.
The estimate was for the figure to show a decline of 0.2%.
The July figure, on the other hand, was revised up from a gain of 1% to an increase of 1.1% for $710.8 billion.
Retail sales were up 2.1% in August, compared to the same month last year.
"Total sales for the June 2024 through August 2024 period were up 2.3 percent from the same period a year ago," the agency said in a statement.
Retail trade sales, meanwhile, were up 0.1% in July from the previous month, and were up 2% compared to the same month last year.
The gains indicate that consumer demand remains high in the world's largest economy.