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US retail sales rose in August

2018-09-14 01:22 pm | Resource: News | No Views : 70


  
The US Federal Bureau of Statistics said in a report released on Friday that the seasonally adjusted retail sales and food services for August in the United States rose 0.1% to $ 509 billion, compared to the previous month. On an annualized basis, retail sales and food services rose by 6.6%.

Retail sales rose 0.1% in August from a month earlier and jumped 6.2% yoy. Petrol stations rose by 20.3% year-on-year, while non-commercial retail sales rose by 10.4% over the same period last year.

Sales data for retail and food services for the previous month were adjusted from a monthly increase of 0.5% to 0.7%.

Dollar Falls After US Retail Sales

The greenback was trading at 0.9642 against the franc, 1.1693 against the euro, 111.86 against the yen and 1.3116 against the pound around 8:32 am Eastern time.

US import growth slowed to 3.7% in August

In another statement, the US goods inflation index fell by 0.6 percent last month, according to the Labor Department. The report released on Friday showed that the annual pace of growth was severely weakened by 1.2 percentage points, the highest since January 2016, to 3.7 percent. The pace of 4.9%, slightly revised, was the fastest since February 2012. In July alone, import prices fell by 0.1%, compared with any change in flash figures from the previous update.

The decline in August was driven by a 3.9% drop, although the commodity was still 30.6% stronger than a year earlier. The 12-month change in headline was the worst performance in food, feed and beverage prices, which fell by 3.4%, 0.2 points lower than July.

Trading in the export sector showed a decline of 0.1% during the month of the report after a decrease of 0.5%, as the non-agricultural goods index increased the remaining component. The annual growth rate was cooled down by 3.6% from 4.3%.


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