Tuesday, September 14, 2010

Retail Sales in August

The most recent retails sales report released by the Department of Commerce suggested that there is no sign of double dip in the economy. The report counts receipts of stores that sell durables and non-durables.

Retail sales in August beat the median forecast of 0.3 percent with components more positive than not. Overall retail sales in August continued to improve, gaining 0.4 percent, following a 0.3 percent rebound in July.

Among the gainers are gasoline station sales (up 1.9 percent),  food & beverages (up 1.3 percent) and clothing (up 1.2 percent), health & personal care, sporting goods & hobby stores, general merchandise, nonstore retailers, and food services & drinking places.

Among the losers are 1.1 percent fall in electronics & appliances and a 0.9 percent decline in miscellaneous stores. Motor vehicle & parts dealers decreased 0.7% while furniture & home furnishings slipped 0.5 percent. Building materials and garden equipment sales were flat.

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