Year-over-year growth on a three-month moving average was also up 3.4 percent.

NORTH AMERICA–Retail sales in August were down 0.2 percent from July on a seasonally adjusted basis, according to the National Retail Federation.

However, on a year-over-year basis, August sales increased 3.7 percent unadjusted. The numbers exclude automobiles, gas stations and restaurants.

“Retail sales for August were truly a mixed bag, with monthly gains in July reversed in August,” says Jack Kleinhenz, chief economist, NRF. “The bottom line is that consumer spending is uneven but remains resilient and they key contributor to U.S. economic growth.”

In addition year-over-year growth in August was up 3.4 percent on a three-month moving average. Highlights for the month include:

“While it is too early to assess the impact of Hurricanes Harvey and Irma have had on the economy and retail sales, there’s no doubt that they will impact consumer spending–particularly in certain sectors–as Florida and Texas work to rebuild.”