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U.S. Retail Sales Rise by 0.1% in August

14/09/2018 12:31:02 Economic Indicators
U.S. retail sales rose 0.1% in August the Commerce Department said on Friday.This was compared to a 0.8% gain in the previous month which was revised up from an initial 0.5%.Economists had forecast a reading of 0.4%.Rising retail sales over time correlate with stronger economic growth, while weaker sales signal a declining economy.Core retail sales, which exclude automobiles, gasoline, building materials and food services, rose 0.3% in August, after a 0.9% increase in the previous month.The consensus forecast was for a reading of 0.5%.Core retail sales correspond most closely with the consumer spending component of gross domestic product.