US retail sales rise 0.1% in August, beating estimates

Figure up 2.1% annually, according to Commerce Department

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.

Kaynak:

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