US retail sales beat expectations in August

Data showed that retail sales in the United States rose by 0.6% in August, which is higher than expectations of 0.2%. July data was revised to 0.5% instead of the 0.7% previously announced. On an annual basis, retail sales rose by 2.5% in August. .

Receipts at gas stations rose 5.2% as gasoline prices rose in August to $3.984 a gallon in the third week of the month, the highest level this year. Core retail sales, which exclude cars, gasoline, building materials and food services, rose 0.1% in August.

Other data showed that US unemployment claims rose by 3,000 to 220,000 seasonally adjusted claims for the week ending September 9, and continuing unemployment claims rose by 4,000 to 1.688 million during the week ending September 2.

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