I=6
Retail sales rose 0.6% in August, beating 0.2% estimate
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Retail sales rose 0.6% in August, beating 0.2% estimate and unchanged from July (revised upwards from 0.5%).
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Excluding autos, retail sales rose 0.7%, above 0.4% estimate.
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‘Control group’ sales, which feeds into GDP’ rose 0.7%, above 0.4% estimate.
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Nine of the 13 categories posted an increase, led by online retailers, clothing stores and sporting goods, likely reflecting back-to-school shopping.
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The data are not adjusted for inflation which rose 0.4% in August.
