Intraday Economic News: August Retail Sales Are Flat; Rise 0.1% Excluding Autos Sep 11
Standard & Poors, September 2011
Abstract
August retail sales were flat on a month-to-month basis, which was much weaker than the consensus expectation of a 0.2% increase and after July was downwardly revised to a 0.3% month-over-month increase (previously up 0.5%). Excluding auto sales, retail sales were up 0.1%, also weaker than the 0.3% increase that consensus expected and the downwardly revised 0.3% month-over-month gain in July (was up 0.5%). Retail sales were still up 7.2% over last August, and up 7.3% excluding autos. Gasoline station sales were up 0.3% month over month in August after jumping 0.9% in July. Building materials sales rose 0.2% month over month in August, partially offsetting a 0.5% drop in July. Excluding autos, gas, and building materials, sales edged up...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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