Data Digest: Retail sales stronger than expected
Retail Sales
The numbers: U.S. retail and food services sales for August were $363.7 billion, an increase of 0.4 percent from the previous month and 3.6 percent more than August 2009. Economists surveyed by Bloomberg had expected a rise of 0.3 percent in the July to August numbers.
Quick take: It's encouraging news for consumer spending and a sign that the economy is not going off a cliff, and that the poor purchase numbers in the spring and summer may have been due to a temporary slump.
What it means for you: U.S. consumers are spending more meaning they may be more confident about the economic recovery.
Data Source: Commerce Department
By
Washington Post editors
|
September 14, 2010; 10:20 AM ET
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Retail
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