
August CNBC/NRF Retail Monitor Data reveals sales up even as inflation affects growth
“Consumer spending rose again in August, fueled by a still-stable consumer and a robust back-to-school shopping season,” NRF president and CEO Matthew Shay said.
“Consumer spending rose again in August, fueled by a still-stable consumer and a robust back-to-school shopping season,” NRF president and CEO Matthew Shay said.
Consumers responded to sales and bought ahead of tariffs.
The findings align closely with last week’s CNBC/NRF Retail Monitor, powered by Affinity Solutions.
Total retail sales, excluding automobiles and gasoline, were up 0.49% seasonally adjusted month over month and up 4.44% unadjusted year over year in May, according to the Retail Monitor.
“Spending rose again in April, driven largely by consumers continuing to pull purchases forward to stay ahead of tariffs that will inevitably lead to higher prices,” NRF President and CEO Matthew Shay said.
“The pullback we’ve seen the past few months comes despite strong economic fundamentals. A major factor appears to be driven by the uncertainty caused by tariffs,” NRF President and CEO Matthew Shay said.