Retail sales rise a better-than-expected 1.2% in August after shoppers pulled back spending in July
U.S. retail sales rose 1.2% in August, significantly exceeding the 0.7% gain projected by economists. This rebound follows a revised 0.5% decline in July, indicating a recovery in consumer spending according to Commerce Department data.
NEW YORK (AP) — Consumers stepped up their spending at a better-than-anticipated pace in August after an unexpectedly sharp pullback in July. Retail sales rose 1.2% last month after recording a revised 0.5% dip in July, according to Commerce Department data released Wednesday. Economists were expecting a 0.7% gain for the month, according to FactSet. […]
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