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September 14, 2006
Retail Sales Inch Up In August
U.S. retail sales increased by 0.2% in August, following a 1.4% climb in July. Although the increase was slight, August sales outpaced economists’ expectations, leading to predictions of a consumer boom over the next few months.
Gasoline prices have fallen 40 cents a gallon since their August highs, leading to more disposable income.
Last month’s unexpected increase was led by sales at food stores, restaurants and bars, while overall clothing sales were down 0.3%, according to the Commerce Department.
Posted by Blacks on September 14, 2006 09:24 AM
