US Retail Sales Inch Up Much Less Than Expected In August

WASHINGTON (Alliance News) - Partly reflecting a drop in sales by motor vehicle and parts ...

Alliance News 14 September, 2018 | 1:39PM
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WASHINGTON (Alliance News) - Partly reflecting a drop in sales by motor vehicle and parts dealers, the Commerce Department released a report on Friday showing retail sales in the US increased by much less than expected in the month of August.

The Commerce Department said retail sales inched up by 0.1% in August after climbing by an upwardly revised 0.7% in July.

Economists had expected retail sales to rise by 0.4% compared to the 0.5% increase originally reported for the previous month.

Excluding the decrease in auto sales, retail sales rose by 0.3% in August after jumping by an upwardly revised 0.9% in July.

Ex-auto sales had been expected to climb by 0.5% compared to the 0.6% growth originally reported for the previous month.

Copyright RTT News/dpa-AFX

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