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September 20, 2017

US retail sales dipped 0.2 pct. in August as auto sales fell


US retail sales dipped 0.2 pct. in August as auto sales fell
WASHINGTON –  Consumers cut back on their shopping in August by the largest amount in six months as a big…

WASHINGTON –  Consumers cut back on their shopping in August by the largest amount in six months as a big drop in auto sales offset gains in other areas.

The Commerce Department says retail sales fell 0.2 percent after a 0.3 percent gain in July. It was the biggest one-month decline since sales fell a similar 0.2 percent in February. Auto sales sank 1.6 percent in August, the biggest drop in seven months.

Excluding autos, sales posted a 0.2 percent rise last month. Demand rose at general merchandise stores, a category that includes big-box retailers such as Target. Rising gasoline prices also boosted sales.

Economists had expected a weaker August sales report. But they remain confident that a healthy labor market will boost consumer spending in coming months.


Source: US News/Foxnews US retail sales dipped 0.2 pct. in August as auto sales fell
US retail sales dipped 0.2 pct. in August as auto sales fell

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