U.S. retailers posted the weakest sales in August in six months and only an increase in purchases at gas stations prevented an outright decline, but the soft patch in spending is unlikely to last.
Retail sales rose a scant 0.1% in August, the government said Friday. Economists polled by MarketWatch had forecast a 0.3% increase.
The numbers would have been even worse if not for a 1.7% spike in spending at gas stations. Retail sales omitting car fuel fell 0.1%.
One saving grace in an otherwise drab report was a sunnier look at what consumers spent in July. Retail sales were raised to show a 0.7% increase instead of 0.5%.
Source : Market Watch