U.S. retail sales rise again in August
U.S. retail and food services sales were up 0.2 percent in August, in line with market expectations and continuing a positive trend.
The U.S. Commerce Department Tuesday also revised upward its July figure, saying the figure was up 0.7 percent from June instead of the 0.6 percent earlier reported. Total retail sales for the period June 2015 through August 2015 were up 2.2 percent from the same period a year earlier.
Market analysts had expected retail sales for August to be up 0.3 percent, according to Yahoo.com. The 0.2 percent figure for August is an advance estimate.
Retail sales for food services and drinking places were especially strong in August, up 8.2 percent over August 2014, the Commerce Department reported. Online retail activity was also up sharply, 6.9 percent, over the previous year.
The relatively robust consumer spending in July and August is expected to be part of the Federal Reserve’s deliberations this week about whether to raise interest rates. The results could help persuade the fed to do so Thursday, according to analysts.
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