Retail sales continued at a steady pace in the Aug. 7 week according to Redbook's tally on Tuesday. The Redbook report shows a plus 3.0% year-on-year pace, unchanged from the prior week.
According to a similar measure from ICSC-Goldman on Tuesday the year-on-year pace currently is at 3.7%. The Goldman report sees the full-month pace coming in at a year-on-year rate of plus 3.0%.
Retail sales under-girds much of U.S. GDP growth. In July (and now into August), the growth rate has been quite steady in the moderate 3% range.
When all you read is gloom, turn here for a much different perspective.