US retail spending picked up in August, mostly due to sales at gas ...

Sep 14, 2023 · US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in ...

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US Retail Spending Picked Up In August, Mostly Due To Sales At Gas ...

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Sep 14, 2023 · The increase was driven largely by spending at gas stations, which advanced 5.2% last month. Excluding sales at gasoline stations, retail spending advanced a more …

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FAQs about US retail spending picked up in August, mostly due to sales at gas ... Coupon?

How did retail spending change in August?

Excluding sales at gasoline stations, retail spending advanced a more modest 0.2% in August from July. Retail spending increased across most categories, including at restaurants and grocery stores. Sales of furniture and at specialty stores, such as those that sell sporting goods, fell 1% and 1.6% respectively. ...

Why did retail sales rise in August?

Retail sales rose in August, highlighting an inconsistency of consumer spending. The 0.7 percent climb in sales last month came after a 1.8 percent decline in July and gains earlier in the summer. ...

What boosted US retail sales in August?

US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in August, the Commerce Department reported Thursday. That’s a slightly faster pace than July’s revised 0.5% gain, and marks the fifth straight month of growth. ...

What happened to retail sales in August?

WASHINGTON, Sept 15 (Reuters) - U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand is cooling as the Federal Reserve aggressively raises interest rates to fight inflation. ...

Why did retail sales rise 0.7 percent last month?

The 0.7 percent climb in sales last month came after a 1.8 percent decline in July and gains earlier in the summer. Retail sales increased slightly in August, the Commerce Department reported Thursday, highlighting an uneven pace for the economic recovery as spending behavior swings month over month. ...

What did Economists expect from retail sales in August?

Economists polled by Reuters had forecast sales would be unchanged, with estimates ranging from as low as a 0.5% decline to as high as a 0.5% increase. Retail sales, which are mostly goods and are not adjusted for inflation, increased 9.1% year-on-year in August. ...