U.S. retail sales for August missed economists’ forecasts, even as demand for automobiles remained strong, indicating a major part of the economy has slowed in the third quarter. The U.S. Commerce Department announced this morning that retail sales rose 0.2 percent after an upwardly revised 0.4 percent rise in July. That gain is the smallest increase in four months. Economists polled by Reuters had expected sales to increase by 0.4 percent overall and 0.3 percent minus autos, gasoline and building materials. The so-called core sales increased 0.1 percent after advancing 0.6 percent in July. Following the retail sales release, Barclays downgraded U.S. third-quarter gross domestic product growth to 1.5 percent, from 1.6 percent.
Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:
Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.
Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services: