According to preliminary calculations by the Department of Commerce, retail trade volumes increased by 1.2% compared to July, reaching 773.9 billion USD, thus compensating for the 0.5% decline in July.
Read more A simple method to extend the shelf life of products: you can do it effortlessly
According to a forecast published by MarketWatch, economists expected a smaller 0.8% growth in retail trade turnover.
Gas station sales increased by 3.1% compared to the previous month, and by 21% compared to the same period last year. These figures are adjusted for seasonal fluctuations.
Fuel prices in the US surged sharply after strikes by the US and Israel against Iran at the end of February prompted Tehran to block the Strait of Hormuz, through which about a fifth of the world’s oil and gas is transported during peacetime.
Read more Everyone should know this: having this disease doubles the risk of stroke
As of August 27, for the first time in history, the average gasoline price in the country exceeded 4 dollars per gallon daily in August, making this August the most expensive August at gas stations.
Excluding gas station sales, retail trade volumes in August increased by 1.1% compared to the previous month.
Read more Renata Šerelytė-Mendeikienė – about the writer’s peace, cherished solitude, and necessary doubt
Sales also increased in restaurants and bars.
