US Retail Sales Rebound 1.2%, Exceed Forecasts

US retail sales rose 1.2% month over month in August, exceeding the 0.8% consensus forecast after a revised 0.5% decline in July. Ex-auto sales jumped 1.4% against a 0.6% forecast after a revised 0.2% prior reading. Sales excluding autos and gasoline rose 1.2%. Sales excluding gasoline rose 1.1%. Year-over-year growth moved from 5.0% to 6.0%. The rebound ran across categories. Gasoline-station sales rose 3.1%. Nonstore retailers rose 2.6%. Miscellaneous retailers rose 1.9%. Electronics and appliances rose 1.6%. Sporting goods, hobbies and books rose 1.2%. Food services and drinking places rose 1.2%. The August report was released the same day as an expected Federal Reserve rate hike decision. What is contested: None found in the record. The Federal Reserve decision expected that day is the next development.