Retail Sales Just Took an Unexpected Turn – The Latest Retail Numbers Will Surprise You

The latest numbers from the U.S. Census Bureau indicate that Americans are still spending, though perhaps more unwillingly than during the early part of the year. Retail sales in August 2024 rose by a scant little bit compared with July.

The U.S. Department of Commerce’s Census Bureau regularly publishes retail sales data, providing insights into the economic landscape. Here are the key highlights from the most recent reports:

Overall Retail Sales Performance

• August 2024 Sales:

  Retail and food services sales reached approximately $710.8 billion, marking a 0.1% increase from July 2024 and a 2.1% increase compared to August 2023

• Integrated Product Videos

  From June through August 2024, total sales increased by 2.3% compared to the same period last year.

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Key Segments Analysis

• Core Retail Sales (Excluding Food, Auto, and Fuel):

  The Census Bureau tracks these core segments to provide a clearer picture of consumer spending trends.

• Nonstore Retailers:

  This segment saw a significant year-over-year increase of 7.8%, indicating a strong shift towards online shopping and e-commerce.

• Food Services and Drinking Places:

  This category rose 2.7% compared to August 2023, reflecting ongoing consumer demand in the hospitality sector.

Difference between advance estimate and final retail sales figures

Keep in mind: These figures are based on preliminary reports from retailers. The Census Bureau will update them later to ensure accuracy in year-over-year comparisons.

If you’re interested in tracking these trends, the Census Bureau updates these numbers monthly!

https://www.retaildive.com/news/monthly-retail-sales-from-the-us-commerce-department/574252/ -Graphs.