U.S. Retail Spending Grew at a Slower Pace in August

[mahatmakanejeeves]

U.S. Retail Spending Grew at a Slower Pace in August

The increase in retail sales marks an eased pace from earlier in the summer when spending rebounded sharply from steep declines that occurred early in the pandemic. Consumers spent more on clothing, electronics and furniture in August as students went back to school.

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[progree]

1. A non-paywalled link (Marketwatch), also THE government report

Note these numbers are seasonally adjusted but not inflation adjusted

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U.S. retail sales climb in August for third straight month, but momentum is slowing MarketWatch, 9/16/20
https://www.marketwatch.com/story/us-retail-sales-rise-in-august-for-third-month-in-a-row-and-top-precrisis-levels-2020-09-16

U.S. retail sales rise 0.6% in August despite end of federal aid

Sales have exceeded pre-crisis levels since June, a turnaround that few economists would have predicted early in the pandemic.

Internet retailers saw basically no change in sales levels, though receipts are up 22% from a year earlier.

Retail sales are about 2% higher now compared to pre-pandemic levels in February, but they would almost certainly be higher still had there been no viral outbreak.

The article has a graph of percent increase of retail sales vs. a year ago (i.e. year-over-year)

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Retail sales from the guvmint
https://www.census.gov/retail/marts/www/marts_current.pdf

August 2020 is up 2.6% compared to August 2019.

Looking at the table, the 1st 8 months of 2020 are down 1.8% compared to the first 8 months of 2019.

[mahatmakanejeeves]

2. Thanks. I was working today. NT