August Retail Sales Sluggish

Retail sales for the month of August weren’t quite as robust as analysts predicted, according to data released Friday by the National Retail Federation. Overall retail sales increased by 0.1 percent from the previous month, and 3.9 percent unadjusted year-over-year, while clothing and clothing accessories stores’ sales decreased 0.8 percent month-to-month. “Retail sales gains continue to be tepid,” said NRF chief economist Jack Kleinhenz. “Retail sales and employment, while measurably positive, have been disappointing over the last few months, and have been difficult to reconcile with consumer confidence. The data suggests that consumers remain cautious with their pocketbooks and purchases.”