WASHINGTON — U.S. retail sales rose in August for the 11th consecutive month, as consumers continued to spend while staying focused on value, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions.
Total retail sales, excluding automobile dealers and gasoline stations, increased 0.22% on a seasonally adjusted basis from July and rose 3.87% year over year.
Core retail sales, which also exclude restaurants, increased 0.17% month over month and 3.47% year over year.
“Retail sales climbed steadily once again in August,” said Matthew Shay, president and CEO of the National Retail Federation. “Supported by low unemployment and steady wage gains, households remained budget-conscious but took full advantage of back-to-school promotions to stretch their dollars. Retailers stayed committed to affordability, keeping everyday products accessible for American families.”
NRF noted that the August results reflect a new Retail Monitor methodology and are not directly comparable to previously published figures. The updated methodology weights anonymized credit and debit card purchase data compiled by Affinity Solutions to reflect the makeup of U.S. consumers and projects the data to match U.S. Census Bureau retail sales totals.
Year-over-year comparisons are now also seasonally adjusted, consistent with the month-over-month figures.
September is a transition month for the Retail Monitor, as NRF reports only total and core retail sales for August. The organization plans to launch its full release, including enhanced sector details and dollar sales levels, in October.
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