Economic Data Today: Retail Sales Up 0.8%, Inventories Rise 0.4%

Release (Census Bureau)	Period	Level	Monthly change	Prior month
Advance retail and food services sales	Sept. 2026	$745.0 billion	+0.8% (±0.4)	+1.3% (Aug., revised)
Total business inventories	Aug. 2026	$2,818.8 billion	+0.4% (±0.1)	+0.9% (July, revised)
Total business sales	Aug. 2026	$2,123.5 billion	+1.1% (±0.1)	n/a

Two Census Bureau releases led the U.S. economic calendar on Thursday. Retail spending kept growing in September, and business stockpiles grew more slowly in August than the month before. The economic data today covers consumer demand and the supply chain behind it.

Key takeaways

• Retail and food services sales rose 0.8% in September to $745.0 billion.
• The August retail gain is now shown as +1.3%, a revised figure that sets a high bar for the monthly comparison.
• Total business inventories rose 0.4% in August to $2,818.8 billion, after a revised 0.9% increase in July.
• Total business sales rose 1.1% in August to $2,123.5 billion, outpacing the growth in inventories.

Retail sales: September gain follows a strong August

The advance estimate for retail and food services sales put September spending at $745.0 billion, up 0.8% from August. The Census Bureau lists a margin of error of plus or minus 0.4 percentage points. The reading is therefore distinguishable from a flat month, though the true change could be somewhere between roughly 0.4% and 1.2%.

The comparison base is also elevated. August is shown at +1.3%, a revised figure. September’s increase came on top of that larger gain, so the two-month stretch points to consumers who kept spending through the end of the third quarter.

The figure is an advance estimate and the agency routinely revises such numbers. The August reading in this release is already labeled as revised. Anyone using the data for forecasting should treat September’s 0.8% as provisional until the next monthly report restates it.

The release covers retail and food services combined, so it captures restaurant and bar spending along with store and online purchases. Those categories are the main consumer-facing part of the monthly economic calendar. The release summary does not break out categories, and this report does not either.

Business inventories: growth slows as sales accelerate

The Manufacturing and Trade Inventories and Sales report showed total business inventories at $2,818.8 billion at the end of August, up 0.4% from July. The margin of error is plus or minus 0.1 percentage point. July’s change is now listed as +0.9%, a revised figure, so August’s stock build was less than half the pace of the prior month.

Total business sales, which cover manufacturers, wholesalers and retailers, reached $2,123.5 billion. That was up 1.1% from July, again with a margin of error of 0.1 point. Sales rose faster than inventories for the month. A stockpile that grows more slowly than sales means that, on this measure, businesses were moving goods at a quicker clip than they were adding to shelves and warehouses.

Inventory data feeds directly into the calculation of gross domestic product, which makes it a regular input for analysts tracking the third-quarter GDP report. Today’s release covers August only, and the monthly detail does not by itself determine the quarterly figure.

What to watch next

The September business inventories and sales report will show whether stock building stays moderate after the August slowdown. Revisions to September retail sales will also matter, given the size of the August comparison and the 0.4-point margin of error on the advance reading. Upcoming releases on the economic calendar, including consumer price data, will help show how much of the retail gain reflects higher prices rather than higher volumes. Today’s retail figure is a nominal dollar amount, not adjusted for inflation in the summary provided.