"The last important data before the Fed decision": US August retail sales increased by 0.1% month-on-month, beating expectations
The data for July was revised upward by 0.1 percentage points to 1.1%. The unexpected increase in retail sales indicates that U.S. consumer demand remains strong, adding new evidence to the soft landing of the U.S. economy
U.S. retail sales unexpectedly rose in August, indicating that U.S. consumer demand remains strong. This adds new evidence to the soft landing of the U.S. economy. However, can this prevent the Federal Reserve from making a significant rate cut this Wednesday?
On Tuesday, September 17th, the U.S. Census Bureau released data showing that U.S. retail sales increased by 0.1% month-on-month in August, surpassing the expected decline of 0.2%. July's data was revised up by 0.1 percentage points to 1.1%.
Core retail sales (excluding automobiles) grew by 0.1% month-on-month, lower than the expected growth of 0.2%. Excluding automobiles and gasoline, retail sales in August increased by 0.2% month-on-month, falling short of the expected 0.3%, but marking the fourth consecutive month of growth.
Compared to the same period last year, the year-on-year growth rate of retail sales in August slowed to 2.1%, while core retail sales excluding automobiles grew by 3.9% year-on-year, showing a slight rebound in growth.
After the data was released, the U.S. dollar index rose by about 10 points in the short term, while U.S. stock futures, U.S. bonds, and spot gold showed little volatility.
By sector, motor vehicle sales saw a contraction, while online retailers experienced a surge in sales.
Following a surge last month, automobile sales remained relatively flat month-on-month, and the decline in used car prices to some extent supported sales.
To be continued