Retail Sales – August 2015

Although headline retail sales increased by only 0.2% m/m in August, that gain was dragged down by a price-related 1.8% m/m fall in gasoline station sales. The overall change from this time last year was an increase of 2.2%.

The overall gain in headline sales was helped by a 0.7% m/m increase in motor vehicle sales, which isn’t overly surprising given we already knew from auto manufacturers that unit auto sales reached a decade high in August. Building material sales declined 1.8% m/m in August, but all that did was reverse the 1.9% m/m increase in July.

Excluding autos, gasoline and building materials, so-called control group sales rose by 0.4% m/m in August.

In summary, the August retail sales report suggests that the bout of late-month financial turmoil, which impacted consumer confidence a little, did not have any meaningful adverse impact on consumption, even when the late Labor Day holiday this year will have pushed more back to school spending into September.

By | 2015-09-15T11:20:10+00:00 September 15th, 2015|Categories: Leading|Tags: |0 Comments

About the Author:

Bryan Sanford is Vice President and Investment Officer of Charter Trust Company. He joined the firm in 2009 and is based in our Concord NH office. Mr. Sanford received his Bachelors of Science degree from the University of New Hampshire, Durham. Mr. Sanford has held the FINRA Series 7 license. Prior to joining Charter Trust, Mr. Sanford served in the United States Marine Corps as an infantryman. He participated in Operation Iraqi Freedom, touring in Fallujah, Iraq.

Leave A Comment