NRF: Retail sales inch up in August amid robust back-to-school season
Consumer spending grew in August as shoppers stocked up on school supplies and tried to beat rising tariffs that could be beginning to affect price.
Core retail sales (excluding restaurants, automobile dealers and gasoline stations) inched up 0.26% month over month in August and rose 6.67% year over year, according to CNBC/Retail Monitor released by the National Retail Federation. That compared with an increase of 1.55% month over month in July.
Total retail sales (excluding automobiles and gasoline but including restaurants) were up 0.5% month over month and up 6.81% year over year in August. That compared with increases of 1.45% month over month in July.
“Consumer spending rose again in August, fueled by a still-stable consumer and a robust back-to-school shopping season,” stated NRF president and CEO Matthew Shay. “Spending was supported by lower fuel costs, tax-free holidays and consumers buying products before tariff increases take effect. We may be seeing inflationary impacts from tariffs since recent data shows price increases in commodity goods.”
August sales were up in five out of nine categories on a monthly basis. Specifics from key sectors include:
- Digital products (such as electronic books and games) were up 1.58% month over month and up 25.98% year over year unadjusted.
- Sporting goods, hobby, music and book stores were down 0.82% month over month but up 8.96% year over year.
- Clothing and accessories stores were up 0.2% month over month and up 8.26% year over year.
- General merchandise stores were up 0.39% month over month and up 7.63% year over year.
- Grocery and beverage stores were up 0.98% month over month and up 7.17% year over year.
- Electronics and appliance stores were down 0.28% month over month but up 3.57% year over year.
- Health and personal care stores were down 0.07% month over month but up 3.25% year over year.
- Furniture and home furnishings stores were up 0.23% month over month and up 3.07% year over year.
- Building and garden supply stores were down 2.13% month over month and down 7.77% year over year.
Unlike survey-based numbers collected by the Census Bureau, the Retail Monitor uses actual, anonymized credit and debit card purchase data compiled by Affinity Solutions and does not need to be revised monthly or annually.
