US retail sales unexpectedly fell in August, likely hurt by the impact of Hurricane Harvey on motor vehicle purchases, suggesting a moderation in consumer spending in the third quarter. The Commerce Department said on Friday retail sales dropped 0.2 percent last month, the biggest decline in six months. Data for July was revised to show sales increasing 0.3 percent instead of the previously reported 0.6 percent jump. Economists polled by Reuters had forecast retail sales nudging up 0.1 percent. Motor vehicle sales tumbled 1.6 percent last month, the biggest drop since ...
US retail sales down 0.2% in August; biggest drop in six months
It was likely hurt by the impact of Hurricane Harvey on motor vehicle purchases, suggesting a moderation in cosumer spending in the third quarter