The Commerce Department’s U.S. Census Bureau today released retail sales data for August 2011. Retail sales were virtually unchanged in August and slightly lower than private-sector expectations of a 0.2-percent increase. Motor vehicle sales in August decreased 0.3 percent, partly due to lingering inventory problems for Japanese manufacturers and the effects of Hurricane Irene. Sales excluding automobiles rose 0.1 percent, below private-sector expectations of a 0.3-percent rise.
“Retail sales have increased 7.2 percent over August sales last year, reflecting healthy annual growth,” Blank said. “We have an opportunity now to help restore the American people’s confidence in Washington and the economy. If we work together to swiftly pass President Obama’s American Jobs Act, we can put people back to work now and put more money in the pockets of American families.”
Source: U.S. Department of Commerce
