US Retail Sales Rise 1.2% in August, Topping Forecasts
Commerce Department data show the strongest monthly retail sales growth in five months, with a key GDP-related measure jumping 1.4%.
US retail sales increased 1.2% in August, exceeding analysts' forecasts and marking the strongest monthly growth in five months, according to data reported by Anadolu Agency.
The report noted that a key measure within the retail sales data, which is used in calculations for gross domestic product (GDP), jumped 1.4% during the same period.
The figures suggest resilience in consumer spending, a major driver of the US economy, though the report did not provide additional details on the sectors contributing to the increase or comparisons with prior months beyond the five-month growth benchmark.
Further details on the breakdown of the retail sales report, including category-specific performance, were not immediately available in the source material.
Sources
- US retail sales rise 1.2% in August, beating forecasts — Anadolu Agency (Turkey)
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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