2026-09-16T12:37:40.651Z / 路透社
华盛顿，9月16日（路透社）—— 8月美国零售销售大幅反弹，家庭对各类商品的购买量增加，同时在餐厅和酒吧的支出也有所增长，这进一步印证了美国经济的韧性，尽管消费者对高通胀的焦虑感与日俱增。
经济学家表示，强劲的需求，加上周三公布的上月进口价格飙升数据，进一步巩固了市场普遍预期的美联储当日晚些时候加息的理由。
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此前本月公布的数据显示，8月生产者和消费者价格增速加快，而劳动力市场在经历夏季大部分时间的波动后恢复稳定。
凯投宏观北美经济学家布拉德利·桑德斯表示：“这再次证明，美国经济完全有能力应对更高的利率，为美联储提供了足够的加息空间以控制通胀。”
美国商务部人口普查局数据显示，上月零售销售环比增长1.2%，为3月以来最大增幅，此前7月的数据经修正后环比下降0.5%。接受路透社调查的经济学家此前曾预测，在7月零售销售此前公布的环比下降0.6%的基础上，本次零售销售（主要为商品销售，未剔除通胀因素）将反弹0.8%。7月的下滑是九个月以来的首次。8月零售销售同比增长6.0%。
上月零售销售增长也部分得益于汽油价格上涨，推高了加油站收入3.1%。尽管通胀居高不下，但由于石油价格冲击和美以与伊朗冲突导致的供应链紧张，美国家庭仍在持续消费。不过，消费者变得更加谨慎，开始寻找价格更低的商品。本月消费者信心有所恶化。
消费得到了稳定的工资增长和近期股市上涨的支撑。家庭储蓄率也在下降，并开始动用他们的储蓄。上月零售销售的全面增长主要得益于非商店零售商收入增长2.6%，这可能是因为家庭为新学年补货，以及早于往年的亚马逊Prime会员促销活动的拖累效应消退。服装商店销售额增长0.7%，同样可能得益于返校购物热潮。
汽车和零部件经销商收入增长0.6%，家具商店收入增长0.9%。电子和家电商店销售额跃增1.6%，体育用品、业余爱好、乐器和图书零售商的收入增长1.2%。
但建筑材料和花园设备零售商的收入下降0.2%。餐饮服务和酒吧收入（报告中唯一的服务类分项）增长1.2%，7月该分项仅微增0.5%。这一类别被视为衡量家庭财务状况的关键指标。
核心零售销售大幅上涨
剔除汽车、汽油、建筑材料和食品服务的核心零售销售上月环比增长1.4%，为2024年9月以来最大增幅，7月该数据环比下降0.4%，未作修正。经济学家此前预测，这些与国内生产总值消费者支出分项对应度最高的所谓核心零售销售将增长0.4%。目前对第三季度经济增长的预估年化增长率超过2.0%。上一季度美国经济增速为1.5%。
美国股市整体走高。美元兑一篮子货币升值。美国国债收益率小幅下跌。
美国劳工部劳工统计局的另一项报告显示，在资本品和消费品成本大幅上涨的推动下，进口价格上月环比反弹0.7%，此前连续两个月环比下降0.3%。经济学家此前曾预测，剔除关税后的进口价格将上涨0.4%。
在截至8月的12个月里，进口价格飙升7.0%，为2022年8月以来最大同比增幅，7月该数据上涨6.1%。进口价格的强劲走势表明，未来几个月通胀可能进一步上升。
美国政府上周公布的数据显示，8月消费者和生产者价格增速加快。进口资本品价格上月上涨0.9%，7月涨幅为1.0%。非电气机械价格在8月连续第二个月上涨1.2%。人工智能支出热潮正在推高进口资本品的价格。
剔除汽车的进口消费品价格在连续两个月下降后，上月反弹0.5%。进口汽车、零部件和发动机价格持平。
进口燃料价格下滑0.1%，连续第三个月下跌。进口食品价格微涨0.1%。剔除食品和燃料的进口价格上月跃增0.8%，7月涨幅为0.3%。截至8月的12个月里，所谓的核心进口通胀上涨5.6%。
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US retail sales rebound more than expected in August; import prices surge
2026-09-16T12:37:40.651Z / Reuters
WASHINGTON, Sept 16 (Reuters) – U.S. retail sales rebounded sharply in August as households boosted purchases of a range of goods while also spending more at restaurants and bars, reinforcing the economy’s resilience even as consumers grow more anxious about high inflation.
Strong demand, together with other data on Wednesday showing a surge in import prices last month sealed the argument for a widely anticipated interest rate increase from the Federal Reserve later in the day, economists said.
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The reports followed data this month showing producer and consumer prices accelerated in August, while the labor market regained its poise after wobbling through much of summer.
“This reaffirms that the economy is more than capable of handling higher interest rates, providing the Fed plenty of scope to hike to get inflation under control,” said Bradley Saunders, North America economist at Capital Economics.
Retail sales jumped 1.2% last month, the largest increase since March, after a revised 0.5% drop in July, the Commerce Department’s Census Bureau said. Economists polled by Reuters had forecast retail sales, which are mostly goods and are not adjusted for inflation, would rebound 0.8% after a previously reported 0.6% drop in July. The decline in July was the first in nine months. Sales increased 6.0% on a year-over-year basis in August.
Last month’s increase also partially reflected higher gasoline prices, which lifted receipts at service stations by 3.1%. Households have continued to spend despite stubbornly high inflation because of the oil price shock and supply chain strains from the U.S.-Israeli war with Iran. Consumers have, however, become more selective and are seeking lower-priced goods. Consumer sentiment deteriorated this month.
Spending is being supported by steady wage growth and recent stock market gains. Households are also saving less and tapping into their nest eggs. The broad rise in sales last month was led by a 2.6% increase in receipts at nonstore retailers, likely boosted by households restocking for the new school year as well as the fading drag from an earlier than usual Amazon Prime sales promotion. Sales at clothing stores rose 0.7%, also likely lifted by back-to-school purchases.
Receipts at vehicle and parts dealers increased 0.6%, while those at furniture stores rose by 0.9%. Electronics and appliance store sales jumped 1.6%, and receipts at sporting goods, hobby, musical instrument and book retailers were 1.2% higher.
But receipts at building material and garden equipment retailers fell 0.2%. Sales at food services and drinking places, the only services component in the report, increased 1.2% after edging up 0.5% in July. This category is considered a key measure of household finances.
CORE RETAIL SALES SURGE
Retail sales excluding automobiles, gasoline, building materials and food services surged 1.4% last month, the largest gain since September 2024, after an unrevised 0.4% decline in July. Economists had forecast these so-called core retail sales, which correspond most closely with the consumer spending component of gross domestic product, would rise 0.4%. Economic growth estimates for the third quarter currently exceed a 2.0% annualized rate. The economy grew at a 1.5% pace last quarter.
U.S. stocks were mostly higher. The dollar gained versus a basket of currencies. U.S. Treasury yields slipped.
A separate report from the Labor Department’s Bureau of Labor Statistics showed import prices rebounded 0.7% last month amid solid increases in the costs of capital and consumer goods, after declining by 0.3% for two straight months. Economists had forecast import prices, which exclude tariffs, would rise 0.4%.
In the 12 months through August, import prices soared 7.0%, the largest increase since August 2022, after advancing 6.1% in July. The strength in import prices suggested inflation could rise further in the coming months.
The government last week reported accelerations in consumer and producer prices in August. Imported capital goods prices increased 0.9% last month after rising 1.0% in July. Prices for nonelectrical machinery gained 1.2% for the second straight month in August. An artificial intelligence spending boom is driving up prices for imported capital goods.
Prices for imported consumer goods, excluding automotives, rebounded 0.5% after two straight monthly decreases. The cost of imported automotive vehicles, parts and engines was unchanged.
Prices of imported fuel slipped 0.1%, declining for a third straight month. Imported food prices edged up 0.1%. Excluding food and fuels, import prices jumped 0.8% after rising 0.3% in July. The so-called core imported inflation increased 5.6% in the 12 months through August.
Reporting by Lucia Mutikani; Editing by Chizu Nomiyama and Paul Simao
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