August Retail Sales Jump 1.2%, Beating 0.8% Consensus
Key Takeaways August advance retail sales rose 1.2% month over month, comfortably above the 0.8% consensus. The control group, the measure that feeds the GDP calculation, also gained 1.2%, topping a 0.5% forecast. July's headline was revised to a 0.5% decline, a slightly shallower pullback than the 0.6% first reported. Year over year, total retail and food services sales are up 6.0%; the control group is up 5.6%. Equities held modest gains and Treasury yields eased in the early reaction, with the FOMC decision landing at 18:00 UTC today. August retail sales came in hot. Advance retail and food services sales rose 1.2% month over month, according to the Census Bureau, against a consensus expe…
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