Retail sales were higher than expected in August despite higher prices on gasoline and other goods

Retail sales exceeded expectations last month, rising 1.2% after recording a revised dip of 0.5% in July, new Commerce Department data shows. Economists were anticipating a 0.7% gain in August, the Associated Press reported, citing FactSet. 
The dip in July followed months of solid retail sales. Americans spent heavily during the World Cup and on Amazon Prime Day. Sales in April and May were solid as Americans spent their government tax refunds. 
Even excluding business at gas stations, retail sales rose 1.1% in August, signaling consumer resilience. 
The Commerce Department figures, released Wednesday, aren’t adjusted for inflation. 

Read Full Article: https://justthenews.com/nation/economy/retail-sales-were-higher-expected-august-despite-higher-prices-gasoline-and-other?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators