Retail Sales in U.S. Decline in August by More Than Forecast
Source: Bloomberg
Retail Sales in U.S. Decline in August by More Than Forecast
by Michelle Jamrisko
September 15, 2016 — 8:30 AM EDT
Updated on September 15, 2016 — 8:51 AM EDT
Sales at U.S. retailers dropped more than forecast in August, indicating a pause in recent consumer-spending strength that has carried the economy. ... Purchases declined 0.3 percent from July, the first drop in five months, after a revised 0.1 percent advance in the previous month, Commerce Department figures showed Thursday in Washington. The median projection of economists surveyed by Bloomberg called for a 0.1 percent decline. Excluding cars, sales unexpectedly fell 0.1 percent.
An easing in vehicle buying matched a lackluster performance elsewhere, with sales falling in seven of 12 retail categories outside autos. While low borrowing costs, cheap gasoline prices and steady job gains should keep a floor under demand, wage growth remains slow and sustained weakness in consumer spending could limit any second-half economic rebound.
“This is not a good report, for the most part,” said Chris Christopher, director of consumer economics at IHS Global Insight in Lexington, Massachusetts. “The consumer’s doing relatively well -- even with these numbers, it’s one of the strongest parts of the economy. There’s modest inflation, real disposable income gains are relatively robust, and they feel pretty confident.”
The report represents one of the last major data releases before Federal Reserve policy makers meet next week to debate raising interest rates. While officials are split on the urgency to increase borrowing costs, most investors and economists expect the central bank to hold off this month.
Read more: http://www.bloomberg.com/news/articles/2016-09-15/retail-sales-in-u-s-decline-in-august-by-more-than-forecast
Wait, what?
Supposedly pay per view, but it opened for me:
Decline was the first since March
By Eric Morath and Ben Leubsdorf
Eric.Morath@wsj.com
http://twitter.com/EricMorath
ben.leubsdorf@wsj.com
https://twitter.com/BenLeubsdorf
Sept. 15, 2016 8:33 a.m. ET
WASHINGTON—U.S. retail sales declined in August, a cautious signal about consumers’ ability to remain the primary driver of economic growth this year. ... Sales at retail stores, online and at restaurants fell 0.3% in August to a seasonally adjusted $456.32 billion last month, the Commerce Department said Thursday. It was the first decline in retail sales since March. Sales had increased 0.1% in July, a small upward revision from an initial flat reading.
Excluding autos, retail sales last month fell 0.1%. Economists surveyed by The Wall Street Journal had expected overall sales would fall 0.1% in August, but rise 0.2% when excluding autos.
Retail sales were up 1.9% in August from a year earlier, outpacing weak growth in consumer prices over the past year. But sales growth slowed from July’s annual increase of 2.4%.
Consumer spending has been the primary driver of growth so far this year, expanding at more than double the pace of the overall economy during the first half of 2016. Retail sales, a closely watched measure of consumer spending, showed strong gains this spring, before easing in recent months.
= new reply since forum marked as read
even with happy go lucky music ------------------go figure
http://www.freep.com/story/money/cars/ford/2016/09/14/mexico-ford-shiftng-us-car-production-mexico/90355146/
and then this---------------------think people are worried, duh!!!!!!!!!!!!!!!!!!
http://www.detroitnews.com/story/business/autos/ford/2016/09/14/ford-car-production-mexico/90354444/
