WASHINGTON - Retail sales increased 0.4% in August, the strongest gain in five months, topping economists’ estimates, the Commerce Department reported today.
Excluding auto sales, retail sales increased 0.6%, also the largest increase since March. Excluding auto, gasoline and building material, retail sales increased 0.5% for the month.
Economists expected retail sales and sales excluding auto to each increase 0.3%, according to the median estimate from Thomson Reuters.
Retail sales for July were revised lower to a 0.3% increase from the 0.4% gain reported last month. July sales excluding autos were revised to a 0.1% increase from a 0.2% climb.
August sales for motor vehicles and parts declined 0.7% and sales at electronics and appliance stores fell 1.1%, the largest decline since March. Sales at general merchandise stores increased 0.4% in August.
