August retail rebound fuels GDP optimism as inflation remains stubborn
TL;DR
U.S. retail sales rose 1.2% in August, led by nonstore retailers and services, with core retail ex-autos, gas, building materials and food up 1.4%—the strongest gain since Sept. 2024—boosting Q3 GDP forecasts to about 3.0%–3.5%. Inflation signals remained mixed as import prices climbed 0.7% and were up 7.0% year-over-year, even as gasoline costs rose and real wages cooled. The report follows a Fed rate hike to 3.75%–4.00% with guidance for additional increases, underscoring resilient consumer spending amid inflation headwinds.
- Robust US retail sales underscore economy's resilience; inflation pressures building Yahoo Finance
- Solid Economic Data Show U.S. Economy Running Hot Ahead of Fed Decision WSJ
- US Retail Sales Rebound More Than Expected in Broad Advance Bloomberg.com
- Retail sales rise a better-than-expected 1.2% in August after shoppers pulled back spending in July AP News
- Retail sales surged toward the end of summer. The U.S. economy has plenty of momentum. MarketWatch
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