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U.S. retail sales post smallest gain in six months

September 14
10:20 2018

WASHINGTON (Reuters) – U.S. retail sales recorded their smallest gain in six months in August as consumers cut back on purchases of motor vehicles and clothing, but upward revisions to July data likely keep intact expectations of strong economic growth in the third quarter.

The Commerce Department said on Friday retail sales edged up 0.1 percent last month, the smallest rise since February. Data for July was revised higher to show sales rising 0.7 percent instead of the previously reported 0.5 percent gain.

The modest increase in retail sales suggests that high gasoline prices could be pulling spending away from other categories. Economists polled by Reuters had forecast retail sales increasing 0.4 percent in August.

Continue Reading At Reuters

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