US retail sales rise more than expected in August

By Mucahithan Avcioglu

ISTANBUL (AA) - US retail sales rose 0.6% month-on-month in August, exceeding market expectations of a 0.2% increase, the Census Bureau said Tuesday.

The total trade volume reached $732 billion, after another 0.6% rise in July.

The strongest gains came from non-store retailers, including online platforms, and clothing stores.

Sales of sporting goods, hobby, musical instruments, and books also rose 0.8%, with food services and drinking places, gasoline stations, and motor vehicles also posting slight increases.

Declines were recorded at miscellaneous store retailers, furniture stores, general merchandise outlets and health and personal care stores.

Core retail sales – which exclude food services, auto dealers, building materials and gasoline stations, and are used in calculating gross domestic product (GDP) – climbed 0.7% in August after a 0.8% rise in July, also beating forecasts of 0.4%.

On an annual basis, retail sales were up 5% last month.