Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  September 14, 2010 14:58:04

U.S. - retail sales in August exceeded market expectations

Retail in the USA reported August sales growth month on month by 0.4% compared with growth of 0.3% in July. The market allowed for the stagnation of growth at 0.3% in the range of estimates from -0.3 to +0.6%.

Sales excluding the automotive sector, sales rose by 0.6%, which exceeded market expectations of double set for an average increase of 0.3%.

8 out of 13 main categories showed growth, led by food stores and service stations. Revenues increased by 1.2% in clothing stores and 0.4% in large shopping centers.

Excluding the automotive segment, sales of fuel and building materials, an indicator used to calculate GDP grew by 0.6% in July, compared with a decrease of 0.1%.

Today's figures are, in the accompanying comments, another indication of decreasing risk of a second recession.

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