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Financial News: U.S. Retail Sales Rise Less Than Expected In

U.S. Retail Sales Rise Less Than Expected In August

09/16/2020 - 08:40:00 (RTTNews)

(RTTNews) - Retail sales in the U.S. continued to increase in the month of August, according to a report released by the Commerce Department on Wednesday, although the pace of growth fell well short of economist estimates.

The Commerce Department said retail sales rose by 0.6 percent in August after climbing by a downwardly revised 0.9 percent in July.

Economists had expected retail sales to surge up by 1.0 percent compared to the 1.2 percent jump originally reported for the previous month.

Excluding sales by motor vehicles and parts retailers, retail sales climbed by 0.7 percent in August after leaping by a downwardly revised 1.3 percent in July.

Ex-auto sales were expected to increase by 0.9 percent compared to the 1.9 percent spike originally reported for the previous month.

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