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US Retail Sales Unexpectedly Rise After Drop in Prior Month

  • Value of overall purchases rose 0.3% in August, above estimate
  • July retail sales were revised lower to a 0.4% decline
Bloomberg business news
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US retail sales unexpectedly rose in August after declining a month earlier, as consumer demand for goods broadly held up but showed signs of moderating amid historic inflation.

The value of overall retail purchases increased 0.3% last month after a downwardly revised 0.4% drop in July, Commerce Department data showed Thursday. Excluding gasoline, retail sales were up 0.8%. The figures aren’t adjusted for inflation.