by Calculated risk on 09/15/2022 08:43:00 AM
On a monthly basis, retail sales rose 0.3% from July to August (seasonally adjusted), and sales were up 9.1% from July 2021.
From the Census Bureau report:
Advance estimate of US retail and food service sales for August 2022, adjusted for seasonal changes, holiday differences and trading days, but not for price changes, was $683.3 billion, An increase of 0.3 percent from the previous monthand 9.1 percent above August 2021. … The change in June 2022 to July 2022 was revised almost unchanged to a decrease of 0.4 percent.
Click on the chart for a larger picture.
This graph shows retail sales since 1992. These are monthly retail sales and food service, seasonally adjusted (total and ex-gasoline).
Retail sales excluding gasoline rose 0.8% in August.
The second graph shows the annual change in retail sales and food service (formerly gasoline) since 1993.
Retail, food service and ex-gasoline sales rose 7.6% year over year.
Sales in August were slightly above expectations, and sales in May, June and July combined were revised upwards.