August retail sales increased 0.6% month-over-month (consensus 0.2%) following a downwardly revised 0.5% increase (from 0.7%) in July.
Excluding autos, retail sales rose 0.6% month-over-month (consensus 0.4%) following a downwardly revised 0.7% increase (from 1.0%) in July.
The key takeaway from the report is that gasoline station sales (+5.2%) had a big impact on the overall increase in retail sales. Excluding gasoline stations, retail sales were up a more modest 0.2%, which is suggestive of a consumer that is softening but not breaking.