{"id":1427412,"date":"2023-09-14T12:42:27","date_gmt":"2023-09-14T16:42:27","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1427412"},"modified":"2023-09-14T12:42:27","modified_gmt":"2023-09-14T16:42:27","slug":"retail-sales-unexpectedly-soared-in-august-as-gasoline-costs-jumped","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/retail-sales-unexpectedly-soared-in-august-as-gasoline-costs-jumped\/1427412\/","title":{"rendered":"Retail Sales Unexpectedly Soared In August, As Gasoline Costs Jumped"},"content":{"rendered":"

Retail Sales Unexpectedly Soared In August, As Gasoline Costs Jumped<\/span><\/p>\n

\n

Following July’s buying spree, expectations are for a slowdown in retail sales in August as BofA omnipotent analysts forecast a decline of 0.1% MoM<\/a> (worse than the consensus +0.1% MoM) with gas prices rising the only saving grace (ex-autos and gas expected to be down 0.5% MoM).,<\/p>\n

<\/a><\/p>\n

BUT… for once, BofA were wrong as the party kept going in August with retail sales exploding 0.6% MoM (smashing the +0.1% exp) – rising for the 5th month in a row…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

That is a 2.5% YoY gain (thank the lord for credit cards, right?)<\/p>\n

Retail sales beat across the board with Core (ex-autos and gas) up 0.2% MoM <\/strong>(+0.1% MoM exp) and the ‘control group’ – which is used for GDP calcs – rose 0.1% MoM <\/strong>(vs expectations for a 0.1% decline).<\/p>\n

<\/a><\/p>\n

Under the hood, the big driver was a 5.2% MoM jump in spending at gasoline stations<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

And non-store retailers were flat in August after surging in July on Amazon’s Prime Day<\/p>\n

<\/a><\/p>\n

Finally, remember this data is ‘nominal’ not ‘real’. So be careful at how excited you get about this data.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 09\/14\/2023 – 08:42<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/retail-sales-unexpectedly-soared-august-gasoline-costs-jumped<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Retail Sales Unexpectedly Soared In August, As Gasoline Costs Jumped Following July’s buying spree, expectations are for a slowdown in retail sales in August as…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1427412","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-5ZkM","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1427412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1427412"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1427412\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1427412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1427412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1427412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}