Breaking: US Retail Sales rise by 0.7% in August vs. -0.8% expected
|Retail Sales in the US rose by 0.7% on a monthly basis to $618.7 billion in August, the data published by the US Census Bureau revealed on Thursday. This print surpassed the market expectation for a decrease of 0.8% by a wide margin. Excluding automobiles, Retail Sales were up 1.8%, compared to analysts' estimate for a decline of 0.2%.
Additional takeaways
"Total sales for the June 2021 through August 2021 period were up 16.3% from the same period a year ago."
"Retail trade sales were up 0.8% from July 2021, and up 13.1% above last year."
Market reaction
With the initial market reaction, the greenback gathered strength against its rivals and the US Dollar Index was last seen trading at a fresh daily high of 92.82, rising 0.4% on a daily basis.
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