by Year-over-year decrease was the smallest since March 2023, when sales fell 1.8% from a year earlier
WASHINGTON — Furniture retail sales had their smallest decrease in nearly a year and a half in August, offering a glimmer of hope despite uncertainties that accompany a typical end-of-year election cycle.
Figures released by the U.S. Department of Commerce on Tuesday showed that sales in the sector totaled $11.2 billion, down just .7% from $11.3 billion in August 2023. They also were down .7% from July.
By comparison, overall retail sales increased 2.1% to $710.8 billion, from $695.9 billion in August 2023. They were up .1% from $702.4 billion in July.
Other sectors that saw decreases from August 2023 included gasoline stations, down 6.8% to $52 billion from $55.8 billion; sporting goods, hobby, musical instrument and bookstores, down 3.6% to $8.2 billion from $8.5 billion; and building material and garden equipment and supplies dealers, down .1% to $41.17 billion, from $41.2 billion.
Sectors with the largest increases included miscellaneous store retailers, such as pet stores, religious supply stores and florists, up 10.7% to $15.4 billion, from $13.9 billion; non-store retailers such as e-commerce sites and catalogs, up 7.8% to $123.6 billion, from $114.7 billion; health and personal care stores, up 3.5% to $37.8 billion from $36.5 billion; and restaurants and bars, up 2.7% to $94.5 billion from $92.1 billion.
Other sectors that saw increases included general merchandise stores, up 2.1% to $75.7 billion from $74.1 billion; electronics and appliance stores, up 1.9% to $7.8 billion from $7.7 billion; food and beverage stores, up 1.6% to $83.1 billion from $81.8 billion; motor vehicle and parts dealers, up 1.3% to $134.3 billion, from $132.6 billion; and clothing and clothing accessories stores, up 1% to $26.1 billion from $25.8 billion.
With its .7% decrease, furniture stores also saw the smallest year-over-year decrease since March 2023, when sales fell 1.8% to $11.8 billion, from $12.05 billion. A month earlier, in February 2023, furniture retail sales rose to $12.2 billion, from $11.9 billion in February 2022.
August sales of $11.2 billion also were above pre-pandemic levels of $11.1 billion in August 2019; $9.9 billion in August 2018; $9.6 billion in August 2017; $9.3 billion in August 2016; $9.1 billion in August 2015; and $8.5 billion in August 2014.
