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Intraday Economic News: August Retail Sales Are Flat; Rise 0.1% Excluding Autos Sep 11
Standard & Poors, September 2011
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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