Retail Sales increased by 0.4% in August to $363.7 billion annualized, higher than the expected increase of 0.3%, following an increase of 0.3% in July, (revised downwards from a 0.4% increase), after decreasing by 0.3% in June. Over the past year, retail sales volume has expanded by 3.6%. Eight of the thirteen major categories showed increases in August. Gasoline stations reported a 1.9% increase in sales after rising by 2.2% last month, reflecting higher prices for gasoline. Grocery stores recorded the second highest increase, with sales rising by 1.4%. Sporting goods, hobby, book and music stores witnessed a 0.9% increase in sales. Sales at clothing and accessories stores also increased by 1.2% while health and personal care stores sales rose by 0.6%. General merchandise stores witnessed a 0.4% increase, while sales at food services and drinking places increased 0.1%. Motor vehicles and parts dealers experienced a 0.7% decrease in sales, after a 1.0% increase in June. Sales at electronics and appliance stores and furniture and home furnishing storesdeclined by 1.1% and 0.5% respectively. Retail Sales excluding autos increased by 0.6% in August, the highest level since March, higher than the expected increase of 0.4%, after increasing by 0.2% in July and decreasing by 0.1% in June.
Business Inventories are expected today at 10:00 AM EST. Business Inventories increased by 0.3% in June to $1, 359.9 billion, and were 0.2% more than June 2009 levels. The inventories/sales ratio was 1.26 at the end of June, compared to 1.37 recorded a year ago.
Upcoming Releases
Business Inventories (09/14 at 10:00 AM EST)
Industrial Production (09/15 at 9:15 AM EST)
Crude Inventories (09/15 at 10:30 AM EST)
Initial Claims (09/16 at 8:30 AM EST)
