U.S. Retail Sales Slow, But Exhibit An Underlying Strength
- 6 years ago
U.S. retail sales recorded their smallest gain in six months in August.
Consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data kept intact expectations of strong economic growth in the third quarter. Other data on Friday showed the biggest drop in import prices in more than 1-1/2 years in August. The weak import price data came on the heels of soft inflation readings in August.
Consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data kept intact expectations of strong economic growth in the third quarter. Other data on Friday showed the biggest drop in import prices in more than 1-1/2 years in August. The weak import price data came on the heels of soft inflation readings in August.