U.S. retail sales rebound as Americans spend more at car dealers and restaurants
The numbers: Sales at U.S. retailers rose a mild 0.3% in August as Americans spent more on new cars and trucks and went out to eat more, suggesting the economy grew at at a steady if slow pace toward the end of the summer.The amount of money... The numbers: Sales at U.S. retailers rose a mild 0.3% in August as Americans spent more on new cars and trucks and went out to eat more, suggesting the economy grew at at a steady if slow pace toward the end of the summer.
Big picture: Retailers are basically treading water. They are selling roughly the same amount of goods and services as they were a year earlier after inflation is factored in. Key details: Auto and parts sales rose 2.8% last month, confounding Wall Street expectations of a decline. If gas stations and auto dealers are set aside, retail sales also rose 0.3% last month. That gives a better idea of retail-sales trends.
Sales also rose at home centers, grocers and clothing stores. Receipts fell at stores that sell home furnishings, electronics, appliances and health-care products.
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