August Retail Sales Hurt by Job Worries
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The August start of the back-to-school shopping season was a disappointment for major retailers, giving the industry a third straight month of tepid sales. Higher gasoline prices and consumers' ongoing worries about jobs contributed to the poor showing.
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Consumer confidence in the US economy fell in August for the first time since February as job growth faded and oil prices rose to a record.
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From department stores to discounters, the nation's retailers reported sluggish August sales yesterday as consumers cut back spending during the generally lucrative back-to-school shopping month.
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A surprise drop in US wholesale prices in August showed inflation apparently in check, but analysts said this was good and bad news for the US economy.
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U.S. retail sales dipped in August and the U.S. gap with its international trade partners widened to a record level in the second quarter of the year, government reports released on Tuesday showed.
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U.S. consumer confidence fell sharply in August, breaking four straight months of gains, as a slowdown in job creation and rising oil prices weighed on sentiment.
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U.S. retail sales posted a larger-than-expected decline in August, a Commerce Department report on Tuesday showed, but the drop was mostly confined to the automotive sector.
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Consumers' renewed worries about job prospects led to a bigger-than-expected drop in confidence in August and suggested the economic expansion is fragile.
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U.S. retail sales dipped in August  and the most comprehensive gauge of the U.S. international  trade gap widened to a record in the second quarter, government  reports on Tuesday showed.
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Shoppers turned tightfisted in August, dropping sales at the nation's retailers by 0.3 percent, providing fresh evidence of an erratic pace of consumer spending in recent months.
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According to official data from National Statistics, retail sales rose 0.6 pct in August from July for a 6.5 pct annual increase. The figures were well above expectations of a 0.2 pct decline and a 5.8 pct gain respectively.
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Sales of GM and Ford cars in the US dropped during August as the industry was hit by a number of factors.
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US retail sales fell 0.3 percent in August, marking the third decline in the past five months, according to an estimate from the Commerce Department.
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WASHINGTONâAmerican shoppers turned tight-fisted in August, dropping sales at retailers by 0.3 per cent and providing fresh evidence of an erratic pace of consumer spending in recent months.
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WASHINGTON -- Retail sales in August posted the weakest showing in two months as worried consumers curbed their spending habits.
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Consumer confidence weakened in August as volatile financial markets and housing problems took a toll, a private research group said Tuesday.
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Shoppers persevered at the nation's stores and malls in August, buying skinny jeans and other back-to-school fashions and giving many retailers solid sales gains for the month. The outlook for the rest of the year nonetheless remained unclear amid higher energy costs and interest rates and a deteriorating housing market.