U.S. retail sales soared in August, beating expectations and seeming to undercut indications from consumer sentiment surveys that suggested consumers might pull back.
Retail sales jumped 0.6 percent in August, marking the third consecutive monthly gain. The Commerce Department said Tuesday that retail sales reached $732.0 billion on a seasonally adjusted basis, more than doubling the 0.2 percent increase forecast by economists. Sales excluding automobiles rose 0.7 percent, also beating the 0.4 percent estimate.
The robust performance caps a resilient summer of consumer spending, with total sales rising 5.0 percent compared with August 2024…
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