Retail Sales Post Slight Rise In August

Sept. 14, 2006
Like the latest jobless claims numbers, the data on August retail sales weren't what most economists expected. The forecasters were looking for a small decline last month. The data show a small increase. Retail sales were a seasonally adjusted $368.2 ...

Like the latest jobless claims numbers, the data on August retail sales weren't what most economists expected. The forecasters were looking for a small decline last month. The data show a small increase.

Retail sales were a seasonally adjusted $368.2 billion in August, a two-tenths percent increase from July, the U.S. Commerce Department reported on September 14. Sales excluding autos also rose two-tenths of a percentage point. August's gains, however, were much smaller than July's. Overall retail sales posted a 1.4% gain in July, and sales except autos posted a 0.6% increase.

August's increases were fairly broad based, though furniture and clothing stores and gasoline stations did report declines.

Retail sales are a closely watched economic indicator since consumer spending accounts for about two-thirds of all U.S. economic activity.

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