U.S. retail sales rose more than expected in August boosted by purchases of new autos and building supplies, suggesting the economy remained strong, even as fears over an impending slowdown continued to mount.
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Retail sales climbed by 0.4 percent in August, well above analyst expectations of 0.2 percent, on the heels of blowout data in July, when households boosted purchases of cars and clothing.
The U.S. consumer has remained relatively resilient in the face of a darkening economic outlook as uncertainties from the U.S.-China trade war continue to rattle markets.
The report is the last big economic report before the Federal Reserve's two-day meeting next week, during which policymakers are widely expected to lower interest rates.
This is a developing story. Please check back for updates.
https://www.foxbusiness.com/economy/august-retail-sales
2019-09-13 12:22:55Z
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