Retail Sales Decline More Than Expected In August

Retail sales declined more than expected in August and decreased -0.3 percent while July retail sales figures were revised higher to +0.1 percent from 0.0 percent, according to latest data today from U.S. Commerce Department.

Economists from briefing.com had a consensus estimate of -0.1 with retail sales in August.

Separately, the U.S. Labor Department reported today that U.S. Producer Price Index (PPI) was flat, 0.0 percent in August, slightly lower than the +0.1 consensus estimate from briefing.com.

In July PPI declined -0.4 percent.

Stock futures are rising following the data release today, reflecting market expectations that the Federal Reserve won’t likely raise interest rates at their next Fed meeting later in September.

-Written by:

Johnathan Schweitzer

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