NRF: Year-Over-Year August Sales Grow

US August Retail Sales Fell 0.2%, Limited Market Reaction

Retail sales increased a revised 0.3% in July, down from an originally reported 0.6% increase.

Excluding autos, an often volatile category, ? sales were up 0.2% last month; economists had expected a 0.5% gain.

United States markets were little changed in opening trade on Friday, despite a report showing soft retail sales last month. Month over month, however, nonstore retail sales fell 1.1%.

Retail sales in August decreased by 0.2 percent from July on a seasonally adjusted basis, according to calculations released today by the National Retail Federation. Sales fell in June, down from prior estimate of an increase.

There was a monthly decline of 0.2% in the control group after a 0.6% gain the previous month. That said, the focus should be on the year-over-year numbers, he said in a note emailed to Retail Dive. "As we look to September, compares get more challenging ... noticeably harder ... for furniture, grocery, clothing and department stores".

Baghdad not to recognize outcome of Kurdish independence vote, Armenian analyst says
Two of Turkey's three opposition parties have also declared that they opposed an independence referendum in northern Iraq. It is clear that the Iraqi authorities can maximally grant a broader autonomy to the Iraqi Kurds seeking independence.

Sales were stronger across a broad range of products. Ex-auto sales had been expected to increase by 0.5%.

The Commerce Department said it couldn't isolate the effect of Hurricane Harvey on retailers last month. "Quarterly retail revenue growth has averaged just 3.2% over the past three years, down from 3.8% during the 2009-2013 period and off sharply from the robust 8.7% growth racked up from 2000-2008".

"With consumer confidence close to record highs and the labour market continuing to improve ... we doubt this is the start of a more sustained downturn and expect retail spending to bounce back over the coming months", said Andrew Hunter, U.S. economist at Capital Economics.

Still, there are some rays of light lately, Perkins said. "Moreover, retail earnings pre-announcements skewed more positively than they have been since 4Q15".

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