U.S. Retail Sales Experience Monthly Uptick
Economists had anticipated a 0.5% rise in retail sales, while the overall trade volume reached $735.9 billion.
The most significant gains were observed in "sales for sporting goods, musical instrument, & book stores" (1.9%), "miscellaneous store retailers" (1.7%), and "gasoline stations" (1.4%).
Other sectors showing growth included "building and garden suppliers" (1.3%), "motor vehicle dealers" (1%), "clothing stores" (0.9%), and "food services & drinking places" (0.6%).
Conversely, "sales were flat at general merchandise and electronics stores" and declined by 0.1% at "furniture stores."
Meanwhile, "sales that are used to compute GDP," which exclude "food services, car dealers, construction material stores, and petrol stations," increased by 0.4%.
On a yearly scale, "retail sales rose 3.3%."
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