Apparel retail sales in US hikes 4.6% in August 2019

"While consumer attitudes about the economy indicate some retreating optimism, the bottom line is that consumer spending remained resilient in August and continued to be a key contributor to US economic growth," NRF chief economist Jack Kleinhenz said.

Apparel retail sales in US hikes 4.6% in August 2019
Apparel retail sales in US hikes 4.6% in August 2019

 

According to the National Retail Federation (NRF), Retail sales increase 0.4% in August seasonally adjusted from July and up 4.6% unadjusted year-over-year and the numbers exclude automobile dealers, gasoline stations & restaurants.

As of August, the three-month moving average was up 4.1% over the same period a year ago, while compared with 3.5% in July. August’s results grows 0.9% month-over-month and 5.5% year-over-year in July.

"While consumer attitudes about the economy indicate some retreating optimism, the bottom line is that consumer spending remained resilient in August and continued to be a key contributor to US economic growth," NRF chief economist Jack Kleinhenz said.

"Trends remain strong, but August grew somewhat slower than July, which could reflect consumers' concerns about the unpredictability of trade policy. It is too early to assess the impact of the new tariffs that took effect at the beginning of this month, but they do present downside risks to household spending."

The August sales which including auto dealers, gas stations and restaurants, were up 0.4% seasonally adjusted from July and up 4.1% unadjusted year-over-year based on the source from the U.S. Census Bureau.