US Retail Sales Up 0.9%

Retail sales in the U.S. increased in August by the most in six months, easing concern about a larger pullback in the biggest part of the economy.

The 0.9 percent gain followed a revised 0.6 percent advance in July that was smaller than initially reported, the Commerce Department said today in Washington. The median forecast of 84 economists surveyed by Bloomberg News called for an increase of 0.8 percent. Demand rose for automobiles and higher gas prices boosted receipts at service stations, while back-to-school sales slowed at department stores.

Higher food and fuel costs along with smaller gains in payrolls and wages may take a toll on household finances, making it challenging for merchants such as Kohl’s Corp. (KSS) and Macy’s Inc. (M) Labor-market weakness prompted Federal Reserve policy makers yesterday to take another step to spur the three-year expansion.

via Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza