NRF reports 0.7% rise in US retail sales from July to August
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NRF reports 0.7% rise in US retail sales from July to August

17 Sep 2021 (Last Updated September 17th, 2021 15:49)

Sales for the first eight months of the year were up by 15% compared with the same period of 2020.

Retail sales in the US increased last month due to a rise in consumer demand, according to data from the National Retail Federation (NRF).

The figures are based on data from the US Census Bureau and show that overall retail sales rose by 0.7% seasonally adjusted from July.

Retail sales for the month, excluding automobile dealers, gasoline stations and restaurants, were up by 2.3% seasonally adjusted from the previous month and 12% unadjusted year-over-year (YoY).

During the month, sales in clothing and clothing accessory stores increased by 0.1% month-over-month seasonally adjusted and 36.6% unadjusted YoY.

Sales in grocery and beverage stores rose by 1.8% month-over-month seasonally adjusted and 4.8% unadjusted YoY.

Online and other non-store sales also increased by 5.3% month-over-month seasonally adjusted and 10.6% unadjusted YoY.

NRF president and CEO Matthew Shay said: “The increase in August retail sales reflects the continued strength of the American consumer and the resilience of our nation’s retailers.

“In spite of the ongoing challenges of the global pandemic, concerns about the Delta variant and supply chain and workforce constraints, the retail industry continues to do what it does best – serve customers and support communities while keeping team members and associates safe and healthy.

“We maintain our confidence in the historic strength of consumers and fully expect a record year for retail sales and a strong holiday season for retailers.”

Sales for the first eight months of the year increased by 15% over the same period of last year, the NRF reported.

The organisation expects US retail sales for this year to grow by between 10.5% and 13.5% compared with last year, increasing to between $4.44tn and $4.56tn.

Last month, the NRF released data showing a slight decline in retail sales in the country in July amid an increase in Covid-19 cases caused by the Delta variant.

Overall retail sales in July were found to have fallen by 1.1% seasonally adjusted from the previous month.