WASHINGTON — August retail sales posted a 0.6% gain, ex autos grew 0.3%, ex auto and gas rose 0.5%.
Also, July-June sales levels were revised higher. The results were all slightly better than expected.
Control group sales posted a 0.4% increase as furniture, electronics, health, and clothing gained. Motor vehicles were up 1.5% as suggested by strong unit sales for new vehicles, gasoline was off 0.8% on lower pricing, and restaurants posted a 0.6% rise.
One point of weakness was non-store retailers up just 0.1%. This category includes mail and electronic ordering.
Q3 sales are running up 4.2% SAAR, suggesting GDP is growing at a good clip. None of the components contradict the story that economic growth remains robust.
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