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August Retail Sales Continue to Disappoint / JILL MISLINSKI / 09/15/2016

The Census Bureau’s Advance Retail Sales Report for August released this morning was once again disappointing. Headline sales came in at -0.3% month-over-month to one decimal, a 0.35 point decline at two decimal places from last month. The consensus was for -0.1%. Core sales (ex Autos) came in at -0.1% MoM. The consensus was for a 0.3% decrease.

Here is the introduction from today’s report:

The U.S. Census Bureau announced today that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $456.3 billion, a decrease of 0.3 percent (±0.5%)* from the previous month, and 1.9 percent (±0.7%) above August 2015. Total sales for the June 2016 through August 2016 period were up 2.4 percent (±0.5%) from the same period a year ago. The June 2016 to July 2016 percent change was revised from virtually unchanged (±0.5%)* to up 0.1 percent (±0.2%)*.


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