Retail sales in the United States increased by 8.0% in August compared to the previous month, surpassing the previous month for the fifth consecutive month. This is a reaffirmation of the firmness of private consumption.
The US Department of Commerce announced on the 14th that retail sales in August were 8.6975 billion dollars, or Japan yen, or about 102 trillion yen.
Compared to July, it increased by 7.0% and surpassed the previous month for the fifth consecutive month.
It also exceeded market expectations, which had expected an increase of around 6.5%.
A major factor was a 0.2% increase in gas station sales in response to higher crude oil prices.
In addition, before the new semester in September, "Clothing & Accessories" increased by 5.2% and "Electronic equipment & home appliances" increased by 9.0%.
This is a sign once again that personal consumption, which has driven the U.S. economy even as interest rate hikes continue, is firm.
On the other hand, if crude oil prices continue to rise, the prices of various goods will rise, and conversely, there are concerns that personal consumption will be sluggish.
In the market, there is a growing view that the Fed = Federal Reserve, which is the central bank, will postpone interest rate hikes at the meeting to decide monetary policy for two days from the 9th of next week, but it is attracting attention what Chairman Powell will say at the press conference on the outlook for high crude oil prices and consumption.