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American retail did well

Retail sales excluding auto sales rose 0.6 percent last month after rising 0.7 percent in July. Retail sales, excluding auto sales and fuel, rose 0.2 percent in August after rising 0.7 percent month-on-month in July.

Excluding cars, fuels, construction products and hospitality, retail sales increased by 0.1 percent in August, after expanding by 0.7 percent in July. This so-called core retail turnover corresponds to consumer spending, one of the most important components of the gross domestic product (GDP).

Gas station sales increased the most, by 5.2 percent, after gasoline prices rose by about 10 percent. In addition, the turnover of clothing stores, electronics and appliances, health and personal care products, food and beverage sales, restaurants and bars, motor vehicle and parts dealers, as well as building materials and garden equipment increased. On the other hand, among other things, the turnover of sports equipment, hobby products, musical instruments and books, as well as sales of furniture stores decreased.

On an annual basis, US retail sales expanded by 2.5 percent after the 2.6 percent increase in July.

In the United States, residential consumption generates more than two-thirds of economic output, so the development of retail sales is an important indicator for assessing growth.

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