U.S. retail sales had a surprise rebound in August, despite concerns over supply chain disruptions and the Delta variant.
Retail sales rose 0.7% last month from the previous month, up 15.1% above August 2020, according to the U.S. Census Bureau. July sales were revised down to show retail sales declining 1.8% instead of 1.1% as previously reported.
“Retail sales in August overcame unusual twists and turns that have affected shopping behavior both in terms of the timing and composition of sales,” NRF chief economist Jack Kleinhenz said.
