Retail sales top Wall Street estimates in August

Published On Sep 17, 2024, 8:33 AM

Retail sales in the U.S. exceeded expectations in August, rising by 0.1%, contrary to forecasts of a 0.2% decrease. This follows a revised 1.1% increase in July. Sales excluding autos and gas also grew, albeit slightly less than anticipated. The latest retail data arrives as the Federal Reserve prepares to potentially cut interest rates for the first time since 2020, amid signs of slowing economic growth and improved inflation metrics.