NRF: Retail Sales Growth Remains Tepid, Up 0.1% in August

Retail sales increased in the month of August but came in at a much slower pace than anticipated. According to the National Retail Federation (NRF) – the world’s largest retail trade association – August retail sales (excluding automobiles, gas stations and restaurants) increased 0.1 percent seasonally adjusted from last month, and increased 3.9 percent unadjusted year-over-year.

“Slow growth continues to be the economic story five years after the financial crisis,” NRF President and CEO Matthew Shay said. “The economy, employment, wages, and retail sales continue to stagger along. Retailers and consumers are resilient but not overly optimistic about the broader economy. While positive retail sales growth continues month-after-month, it is just not strong enough to move the needle.”