U.S. Retail Sales Surge Past Forecasts
Market analysts had forecast a 0.5% increase, while aggregate trade volume hit $735.9 billion.
Sporting goods, musical instrument, and book stores led the surge with 1.9% gains, followed by miscellaneous store retailers at 1.7% and gasoline stations posting 1.4% growth.
Building and garden suppliers advanced 1.3%, motor vehicle dealers climbed 1%, clothing stores rose 0.9%, and food services & drinking places increased 0.6%.
Conversely, general merchandise and electronics stores showed no movement, while furniture store sales declined 0.1%.
Core Retail Metrics Advance
Retail sales excluding food services, automotive dealers, construction material outlets, and petrol stations—the key measure used for GDP calculations—advanced 0.4%.
Year-over-year, retail sales expanded 3.3%.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
