by Bill McBride on 9/15/2017 09:08:00 AM
On a monthly basis, retail sales decreased 0.2 percent from July to August (seasonally adjusted), and sales were up 3.2 percent from August 2016.
From the Census Bureau report:
Advance estimates of U.S. retail and food services sales for August 2017, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $474.8 billion, a decrease of 0.2 percent from the previous month, and 3.2 percent above August 2016. … The June 2017 to July 2017 percent change was revised from up 0.6 percent to up 0.3 percent.
This graph shows retail sales since 1992. This is monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales ex-gasoline were down 0.4% in August.
The second graph shows the year-over-year change in retail sales and food service (ex-gasoline) since 1993.
The increase in August was below expectations, and sales in June and July were revised down.
Note: Hurricane Harvey impacted sales in August.